Kuwait Court of Cassation principle number 1668

Liquidation of a limited liability company. Division of the assets among the partners in the manner specified in its memorandum of association or articles of association; otherwise, the provisions prescribed by law shall be followed. - Failure of the partners to agree on the appointment of the liquidator. Appointment by the court at the request of one of them. Liquidation of the company. Winding up its affairs after its dissolution, assembling its assets, collecting what is owed to it, and paying what it owes in order to establish the remaining balance. Valuation of the assets is dependent on the time of liquidation. The difference between liquidation and the company’s balance sheet.