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Qatar Financial Centre Authority v Ali Bin Yousef Holding LLC

Court of First Instance
CTFIC0023/2024
Neutral Citation
[2024] QIC (F) 33
Date
28 July 2024
Status
Keywords
First Instance Circuit
QFCA Rules
Debt
Judges
George Arestis
Fritz Brand
Yongjian Zhang
Summary

The Qatar Financial Centre Civil and Commercial Court ruled in favor of the Qatar Financial Centre Authority (QFCA) against Ali Bin Yousef Holding LLC. The Defendant was ordered to pay a $3,000 financial penalty for failing to submit a mandatory report on its Beneficial Owners by the required deadline. Despite being properly notified, the Defendant neither contested the decision nor paid the penalty. The court also ordered the Defendant to cover the Claimant's reasonable legal costs. The case was handled under the Small Claims Track to ensure quick and efficient resolution, as the Defendant did not defend the action.

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Judges

  • George Arestis

    Cyprus

  • Fritz Brand

    South Africa

  • Yongjian Zhang

    China

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