Search

Judgments

Qatar Financial Centre Regulatory Authority v Horizon Crescent Wealth LLC

Court of First Instance
Case No. 4 of 2020
Neutral Citation
[2022] QIC (F) 15
Date
29 August 2022
Status
Keywords
Enforcement
Financial Penalty
First Instance Circuit
QFCRA
Judges
Her Honour Frances Kirkham CBE
Sir William Blair
Dr. Rashid Hamad Al-Anezi
Summary

The Qatar Financial Centre Regulatory Authority (QFCRA) sought to enforce a QAR 30 million financial penalty against Horizon Crescent Wealth LLC (HCW) initially ordered on 20 September 2020. The original enforcement condition required court permission due to pending litigation. However, the proprietary claims by Ms. Ileana Mercedes D'Lacoste Agudelo and Ms. Eniluz Jhoana Aponte against HCW were discontinued, removing any need for the condition. The court granted QFCRA’s application to lift the condition, allowing the enforcement of the financial penalty. No costs were ordered.

Download Arabic
Download English

Judges

  • Her Honour Frances Kirkham CBE

    England

  • Sir William Blair

    England

  • Dr. Rashid Hamad Al-Anezi

    Kuwait

Judgment Content

Other Judgments related to the same case

Case No. 4 of 2020

  • Judgment No:

    [2020] QIC (F) 12

    20 September 2020
    View

Services

  • Decorative Pattern
    Judgments
    Judgments

    The Court administers swift, fair, cost-effective and enforceable judgements in line with global best practice, delivered by a distinguished panel of local and international judges.

  • Decorative Pattern
    Upcoming Hearings
    Upcoming Hearings

  • Decorative Pattern
    Courts
    Courts

    The Court’s independent judiciary is comprised of a civil and commercial court and a Regulatory Tribunal that specialises in regulatory appeals.

  • Decorative Pattern
    Mediation
    Mediation

    The Court offers mediation services to individuals, businesses, and others, whether located in Qatar or abroad. This is a voluntary process involving an independent third party (‘the mediator’) who helps the parties reach an amicable settlement in respect to their dispute.

  • Decorative Pattern
    Arbitration
    Arbitration

    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.

  • Decorative Pattern
    eCourt
    eCourt

    eCourt, QICDRC’s innovative electronic case management system, offers globally-accessible virtual hearing capabilities and live-streaming services.

Decorative Pattern

Useful Links

© 2024 All rights reserved.

Accessibility Tools

More info about Ask QICDRC
Start a new conversation

Ask QICDRC

Send
Close
Disclaimer

The responses provided by Ask QICDRC are AI-generated. Those who require questions as to specific legal rules or procedures before the QFC Civil and Commercial Court or the QFC Regulatory Tribunal must carefully read the relevant regulations/laws and, where there is any doubt, should contact a member of the Registry by telephone or email.

Are you sure to start a new conversation?

Cannot connect to Chat API, Please try again...