Kuwait Court of Cassation principle number 1557

The prohibition on a limited liability company conducting insurance and credit operations and investing the funds of others. The reason for this prohibition. - The documents of a limited liability company must contain particulars leaving no doubt as to its type, identity and capital. Omission of these particulars. It does not entail the company’s nullity, but entails the liability of its manager towards third parties out of his own assets, jointly and severally alongside its liability. - 272 - Commercial - Recourse by a third party against the manager of a limited liability company when he omits the particulars pertaining to its documents. Its condition. Establishment of the insufficiency of the company’s assets. An example.