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Through its supervisory arbitrational jurisdiction under Law No 2 of 2017 issuing the Arbitration Law in Civil and Commercial Matters, parties can elect the QICDRC as the “Competent Court” of arbitration to perform various functions in relation to interim measures, enforcement of awards and appeals.
Qatar Financial Centre Regulatory Authority v Robert Sharratt
CTFIC0061/2023
Neutral Citation
[2024] QIC (F) 8
Date
28 February 2024
Status
Keywords
Judges
George Arestis
Fritz Brand
Yongjian Zhang
Summary
In a ruling dated 28 February 2024, the Qatar Financial Centre Civil and Commercial Court ordered Robert Sharratt to pay a financial penalty of QAR 548,121 plus 5% annual interest from 18 November 2022 to the Qatar Financial Centre Regulatory Authority (QFCRA). Sharratt, formerly with Horizon Crescent Wealth LLC, was penalized for regulatory breaches. Despite being notified, he neither appealed the initial decision nor opposed the subsequent summary judgment application. The court concluded Sharratt had no prospect of successfully opposing the claim and awarded the QFCRA the requested relief. Both parties were unrepresented in court.
Judges
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George Arestis
Cyprus
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Fritz Brand
South Africa
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Yongjian Zhang
China
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