QFC 0018/2021, [2023] QIC (A) 4
Daruna For Real Estate Brokerage Co. LLC and Sheikh Nasser bin Abdulrahman bin Nasser Al Thani v Lesha Bank LLC
Type
Case
Court
Qatar Financial Centre - Court of Appeal
Jurisdiction
Qatar Financial Centre, Qatar
Taxonomy
Lending & Security, Development Finance, Creation of Contract, Civil Evidence, Jurisdiction & Choice of Law, Remedies
Decision date
11 Jul 2023
Panel
Lord Thomas of Cwmgiedd, President Justice Sir William Blair and Justice Dr Rashid Al-Anezi
Catchwords
Project Finance - Offer Letter - Joint Venture - Share Agreement - Compensation -Refusal to Finance - Choice of Law - Evidence
This case involved project finance sought by a subcontractor in construction project from a bank but the bank in the end refused to provide. Issues included whether the bank had made an offer to the sub-contract which meant it was bound or if liability rested with another party under a share agreement because of the joint venture stucture put in place. Also considered was the choice of laws, and calculation of compensation, especially as interest had not been claimed. Points were also made on the use of evidence not put before the court of first instance at the appeal.