QFC 0012/2021, [2021] QIC (F) 24
In the liquidation of Powerglobe LLC
Type
Case
Court
Qatar Financial Centre - Court of First Instance
Jurisdiction
Qatar Financial Centre
Taxonomy
Civil Evidence, Litigation Procedure & Practice, Directors, Share Schemes, Liquidation
Decision date
17 Oct 2021
Panel
Justice Arthur Hamilton, Justice Rashid Al Anezi, Justice Ali Malek QC
Catchwords
Company - Winding Up Order - Stay - Procedure - Directors - Evidence - Shareholders - Creditors
This case involved a request by the directors of a company on which the court had previously issued an order for it to be wound up because of a failure to pay a due debt that the winding up proceedings should be stayed. The procedures for such a request had not been properly followed. It was not relevant that the company was trying to pay the debt or reschedule its debts and there was no evidence the creditors supported a stay of the winding up.
Background
On 4 August 2021, on the application of Noble Clean Fuels Limited, the Court ordered that PowerGlobe LLC be compulsorily wound up under the provisions of the Insolvency Regulations 2005.