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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 Authority v Luay Darwish Holding LLC
CTFIC0022/2024
Neutral Citation
[2024] QIC (F) 32
Date
28 July 2024
Status
Keywords
Judges
George Arestis
Fritz Brand
Yongjian Zhang
Summary
In a judgment dated 28 July 2024, the Qatar Financial Centre Authority (QFCA) successfully sued Luay Darwish Holding LLC for failing to submit a required report on its Beneficial Owners by 31 December 2021. As a result, the QFCA imposed a financial penalty of $3,000 on 19 April 2023, which the Defendant did not pay or contest. The court ordered the Defendant to pay the $3,000 penalty and cover the Claimant's reasonable costs. The case was handled under the Small Claims Track to ensure swift resolution, and the Defendant did not appear or defend the action.
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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