QFC 0018/2021, [2021] QIC (F) 27
Daruna For Real Estate Brokerage Co. LLC and Sheikh Nasser bin Abdulrahman bin Nasser Al Thani v Qatar First Bank LLC
Type
Case
Court
Qatar Financial Centre - Court of First Instance
Jurisdiction
Qatar Financial Centre
Taxonomy
Lending & Security, Joint Ventures, Banks, Development Finance, Creation of Contract, Breach, Discharge & Rescission of Contract, General Tort, Civil Courts, Jurisdiction & Choice of Law
Decision date
23 Dec 2021
Panel
Justice Arthur Hamilton, Justice Fritz Brand, Justice Muna Al Marzouqi
Catchwords
Court - Jurisdiction - Construction Project - Bank - Cancelled - Project Finance - Creation of Contract - Share Holder - Company
The original dispute involved a claimed agreement from a QFC based banking institution to provide finance for a construction project which it failed to do and led to the project being cancelled and losses to the construction company. A key issue included was whether the court had jurisdiction as the QFC based entity claimed they were merely shareholders in one of the companies set up to manage the project.