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Full-Text Articles in Comparative and Foreign Law
Limiting The Shareholder And Partner Liability In Joint-Stock And Limited Liability Companies: A Comparative Study Between Kuwait And U.S Laws, Fahad N Sh K Alshammari, Fahad A. Alzumai
Limiting The Shareholder And Partner Liability In Joint-Stock And Limited Liability Companies: A Comparative Study Between Kuwait And U.S Laws, Fahad N Sh K Alshammari, Fahad A. Alzumai
UAEU Law Journal
partner liability exemptions when faced with an attempt to pierce the corporate veil and attach individual liability for ongoing business decisions. The issue is that although piercing the corporate veil rule serves as an important tool for holding decision-makers accountable for misconduct in public companies and limited liability companies, the Kuwaiti legislature did not adopt this exemption If the promoter or the partner uses the company for fraudulent or illegitimate purposes, If he treats the company’s funds as his own personal funds, or if he does not separate his personal interest from the company’s interest, or if he causes incurring …