Kuwait Court of Cassation principle number 1518

The chairman and members of the board of directors of a joint-stock company. Liable to the company, shareholders and third parties for all acts of fraud and abuse of authority, every violation of the law or the company's articles, and fault in management. The implication thereof. The company, as a legal person, may pursue a civil liability action against them, and the action is brought by the general meeting of shareholders, one of them, or the new board of directors. A vote by the general meeting discharging the board of directors does not preclude bringing the liability action. - 265 - Commercial