The Applicant (HCW) sought permission by an application dated 7 March 2024 to appeal from an Order of the First Instance Circuit ([2024] QIC (F) 1 given on 8 January 2024 ordering that HCW be wound up and that the Joint Liquidators be the joint liquidators of HCW and other ancillary orders.

HCW was incorporated in the Qatar Financial Centre ('QFC') on 4 February 2015 and was authorised to carry out the non-regulated business of Trust Administration, but not any regulated business including asset management.

In 2017, significant sums were paid into trust accounts in the name of HCW at the Qatar National Bank (QNB), but following an investigation by the QFC Regulatory Authority (QFCRA), all HCW's accounts at the QNB were frozen on suspicion of money laundering.