The Supreme Court held that partners in a limited liability company who agree in the minutes of a partners' meeting to bear responsibility for repaying a loan taken for the benefit of the company become personally liable for its repayment in proportion to their shareholding once the company fails to repay it. The court also held that a court cannot award a party a sum that the party did not claim in the lawsuit, even if an expert report establishes its entitlement to it.
You do not have a valid subscription to view Decree Intel. Decree Intel is a database of Omani legal research material that covers explanatory notes, government entity overviews, and case and fatwa summaries. Decree Intel is a separate subscription from Decree Legislation. Contact us to learn more.
Decree