QFCRT 0003/2021, [2021] QIC (RT) 5
Power Globe LLC v Qatar Financial Centre Authority
This case was an appeal to the Regulatory tribunal against a decision by the QFCA to withdraw a company's license because of a qualified auditor's report. An extension was initially granted after being requested by the company because their accounts were due imminently. Orders were made to windup up the company because of a failure to pay its debts. Directions were then issued to the company to conclude their appeal which were not acted on. A further request for an extension because of ill health was refused because the party was a company and not an individual and had failed to give suitable information about the ill health. The appeal was dismissed as the appellant had failed to progress their own appeal.
Background
This case was the Tribunal’s decision on an appeal by PowerGlobe LLC a company licensed in the Qatar Financial Centre on 30 March 2017, against a decision of the Qatar Financial Centre Authority (QFCA) dated 15 March 2021 by which the appellant’s license was withdrawn following a qualified auditor's report.