QFC 00013/2020, [2021] QIC (F) 15 issued on 13/7/2021
Bank Audi Company LLC v (1) Marina Trading and Contracting Company WLL, (2) Ahmad Muhamad Ahmad Loubani (3) Bassam Doghlass (4) Hussein Darwish
Type
Case
Court
Qatar Financial Centre - Court of First Instance
Jurisdiction
Qatar Financial Centre
Taxonomy
Litigation Procedure & Practice, Remedies, Lending & Security, Guarantees, Civil Costs
Decision date
13 Jul 2021
Panel
Justice Bruce Robertson, Justice George Arestis, Justice Fritz Brand
Catchwords
Lending - Guarantee - Summary Judgment - Compensation - Commission - Expenses
This case involved a summary judgment for an outstanding loan and interest against the debtor and their guarantors. Claims for compensation, expenses and commission could not be ruled on without conventional proceedings.
Background
The Claimant, filed ion 20 July 2020, claims against all four Defendants jointly and severally as follows: (a) 9,793,902.77 Riyals which was the balance of an LC + LTR facility, a commission of 1.5% for L/Cs annually and annual interest of 7.5% for LTR from the due date to the date of repayment, a request for Compensation of 1,000,000 Riyals as damages “due to its bad intention' according to Article 100, 101 and 104 of the QFC Contract Regulations,. and recovery of their legal expenses