QFC 0029/2022, [2023] QIC (F) 28
Zaid Al-Salman v Rashid Al-Mansoori
Type
Case
Court
Qatar Financial Centre
Jurisdiction
Qatar Financial Centre
Taxonomy
General Accounting, Companies & Corporate Bodies, Breach, Discharge & Rescission of Contract, Termination of Employment
Decision date
4 Jul 2023
Catchwords
Company - Exit Agreement - Share Transfer - Implied Terms- Accounts Payable - Remedies - Induced Breach of Employment Contract
This case involved an exit agreement where one shareholder in an accounting business was transferring their shares to the other. The agreement included provision for the departing shareholder to receive a percentage of listed accounts payable amounts when they came in. Issues included if there was an implied term involving the remaining shareholder's liability to ensure these amounts were achieved. A seperate issue involved if there had been a breach of a clause for the remaining shareholder to support the transfer of the departing one to a new employer/sponsor or if they had induced the new employer to breach the contract and terminate the departing shareholder's employment..