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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 HORIZON CRESCENT WEALTH LLC & OTHERS
CASE NO: CTFIC0019/2020
Neutral Citation
[2022] QIC (F) 22
Date
22 November 2022
Status
Keywords
Judges
Sir William Blair
Her Honour Frances Kirkham CBE
Dr. Rashid Hamad Al-Anezi
Summary
The Qatar International Court ruled on a case involving the Qatar Financial Centre Authority (QFCA) and six defendants, all QFC entities, for unpaid corporation tax, penalties, and late payment charges. The first defendant, Horizon Crescent Wealth LLC (HCW), along with its wholly-owned subsidiaries, failed to file accurate tax returns for multiple years, leading to significant financial sanctions. The court ordered HCW to pay QAR 9,691,013, and the other defendants—Logistic Horizon LLC, Crescent Capital Investment LLC, Stallway LLC, OA Investment LLC, and New Horizon Investment LLC—to pay various sums totaling QAR 150,000, plus interest at 5% annually until payment is made.
Judges
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Sir William Blair
England
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Her Honour Frances Kirkham CBE
England
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Dr. Rashid Hamad Al-Anezi
Kuwait
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