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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 Patrick Baeriswyl
CTFIC0062/2023
Neutral Citation
[2024] QIC (F) 9
Date
28 February 2024
Status
Keywords
Judges
George Arestis
Fritz Brand
Yongjian Zhang
Summary
The Qatar Financial Centre Civil and Commercial Court issued a judgment on February 28, 2024, ordering Patrick Baeriswyl to pay a QAR 728,000 financial penalty to the Qatar Financial Centre Regulatory Authority, along with 5% interest from November 18, 2022, and reasonable costs. The penalty arose from Baeriswyl's contravention of regulatory requirements while at Horizon Crescent Wealth LLC, which is now under liquidation. Baeriswyl's appeal against the penalty was dismissed, and he failed to oppose the subsequent debt application and summary judgment, leading to the court's order for payment.
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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