QFC QFC Case No. 010/2016
Guardian Wealth Management Qatar LLC (in Liquidation)
Background Facts
On 6 May 2016, the Applicant and a fellow-partner in Opus were appointed as joint liquidators of Guardian Wealth Management Qatar LLC (“the Company") pursuant to a special resolution passed by the Company's members that the Company be wound up voluntarily in accordance with Article 58(2) of the Qatar Financial Centre Insolvency Regulations 2005 (as amended) ("the Regulations”). Prior to that appointment the Applicant had agreed with the Company in writing on Terms of Engagement which included an identification of the scope of the work to be undertaken by Opus and the fees to be payable to it. On 6 May 2016 the members (two) passed a resolution providing for the fees payable to Opus, both in the period prior to and in that subsequent to the appointment. This arrangement superseded that made earlier. Limits of £15,000 and £25,000 were put on these fees, subject to authority being granted by the members for additional remuneration.