Kuwait Court of Cassation principle number 3095

Limited liability company. Its termination and liquidation of its assets in accordance with the same rules and grounds prescribed for the termination and liquidation of joint-stock companies, in addition to the case of loss of half or 3 quarters of its capital. The matter of dissolution in the first case. It is submitted to the general meeting of partners, and dissolution requires the approval of the numerical majority holding 3 quarters of the capital. In the second case, those holding a quarter of the capital may obtain judicial dissolution of the company without submitting the matter to the general meeting of companies. - Termination of the company. Its effect. Liquidation of its assets and their division among the partners in the manner specified in the memorandum of association or the company's articles. Absence of a provision in this regard. Its effect. Following the provisions of Law 15 of 1960. - Failure of the partners to agree upon a liquidator. Its effect. The court appoints one at the request of one of them.