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Qatar Financial Centre Regulatory Authority and Qatar Financial Center Authority v Horizon Crescent Wealth LLC, and Mohammed Al-Emadi

Court of First Instance
CTFIC0019/2023
Neutral Citation
[2024] QIC (F) 26
Date
03 July 2024
Status
Keywords
First Instance Circuit
QFC Insolvency Regulations
Liquidators
Judges
Sir William Blair
Ali Malek KC
Dr. Muna Al-Marzouqi
Summary

The Qatar Financial Centre Civil and Commercial Court dismissed Mohamed Abdulaziz Mohamed Ali El-Emadi's application to remove Opus Restructuring LLP as liquidators of Horizon Crescent Wealth LLC (HCW). The Court found procedural defects in the application and noted the liquidator, Ms. Joanne Rolls, was effectively managing the liquidation with the support of major creditors, despite the applicant's objections. It emphasized that the removal of a liquidator requires substantial grounds, which were not sufficiently established. The Court also noted the necessity of following procedural requirements in future applications.

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Judges

  • Sir William Blair

    England

  • Ali Malek KC

    England

  • Dr. Muna Al-Marzouqi

    Qatar

Judgment Content

Appellate History

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