Companies Law
Art. 258Status unknownSaudi ArabiaRegulation
Issued by Ministry of Investment (misa.gov.sa)
1. The liquidator shall be liable for any damage sustained by the company,
partners, shareholders, or third parties as a result of exceeding the limits of
his powers or any damage arising from mistakes he makes in the course of
performing his duties.
2. Liability shall be personal in case of a single liquidator and shall be joint in
case of multiple liquidators and the decision of whom is issued unanimously,
unless each liquidator is entitled to work separately in accordance with Article
251 of this Law.
The Arabic text is the legally binding version. The English translation is provided for guidance only.
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