QFC 0018/2021, [2022] QIC (F) 14
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, Qatar
Taxonomy
Creation of Contract, Breach, Discharge & Rescission of Contract, Remedies, Development Finance, Jurisdiction & Choice of Law, Torts Affecting Business Relations, Lending & Security, Joint Ventures
Decision date
14 Aug 2022
Panel
Justice Arthur Hamilton, Justice Fritz Brand and Justice Muna Al Marzouqi
Catchwords
Joint Venture - Construction Project - Refusal to Provide Additional Funding - Liability- Contract Creation - Subsidiary - Tort - Compensation
This case involved the liability of a bank which had entered into a joint venture with a company working on a construction project to fund that project. The bank had refused to provide additional funding causing losses to the partner. Other issues included whether the bank or its subsidiary was liable and the choice of law between QFC and Qatari law.