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Qatar Financial Centre Authority v Luay Darwish Holding LLC

Court of First Instance
CTFIC0022/2024
Neutral Citation
[2024] QIC (F) 32
Date
28 July 2024
Status
Keywords
First Instance Circuit
QFCA Rules
Debt
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.

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Judges

  • George Arestis

    Cyprus

  • Fritz Brand

    South Africa

  • Yongjian Zhang

    China

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