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Ali Al Maadeed vs Nexus Financial Services WLL

Court of First Instance
CTFIC0033/2024
Neutral Citation
[2025] QIC (F) 16
Date
04 March 2025
Status
Keywords
First Instance Circuit
Financial services
Suitability
Judges
Fritz Brand
Ali Malek KC
Dr. Muna Al-Marzouqi
Summary

The Qatar Financial Centre Civil and Commercial Court dismissed Ali Al-Maadeed's claims against Nexus Financial Services WLL on 4 March 2025. Al-Maadeed sought a refund of $600,000 invested through Nexus, $350,000 in interest, $400,000 in unpaid returns, and $10,000,000 in damages. The court found that Al-Maadeed, who had retired in 2019, had invested based on advice from Nexus but later transferred his business to another broker. The lack of direct evidence and the procedural complexities led to the dismissal of the claims, with Al-Maadeed ordered to pay Nexus's legal costs.

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Judges

  • Fritz Brand

    South Africa

  • Ali Malek KC

    England

  • Dr. Muna Al-Marzouqi

    Qatar

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