Kuwait Court of Cassation principle number 1345

The grounds for termination of a joint-stock company and the rules for its liquidation. Their application to a limited liability company. A partner’s right to seek judicial dissolution of the company. Its justifications. This right pertains to public policy. The effect thereof. It may not be suspended or disabled by a provision in the contract. A partner who defaults in performing his obligations or a partner at fault may not request dissolution of the company. The reason for this. How the company is liquidated. - The company’s retention of its legal personality during the liquidation period. The effect thereof. The liquidator may be sued for fulfilment of its obligations towards its creditors. - 236 - Commercial