QFC 0019/2023, [2024] QIC (F) 26
Qatar Financial Centre Regulatory Authority and Qatar Financial Center Authority v Horizon Crescent Wealth LLC, and Mohammed Al-Emadi
This case involved a request by a creditor who was an employee of a company being liquidated to have the liquidator dismissed and themselves be treated as a priority creditor.
Background
This was an application dated 6 May 2024 of the Second Interested Party, Mr Mohamed Abdulaziz Mohamed Ali El-Emadi, against Opus Restructuring LLP, the Third Interested Party. The application was to remove the liquidators of Horizon Crescent Wealth LLC. The facts of the case were set out in full in the judgment of the Court in Qatar Financial Centre Authority v Horizon Crescent Wealth LLC and others [2024] QIC (F) 1.
Upon application of the Qatar Financial Centre Authority (‘QFCA’), on 12 December 2023 – following a hearing that day – the Court ordered the winding up of Horizon Crescent Wealth LLC (HCW), a company registered in the QFC. This was confirmed by order of 23 December 2023, the nominees of the QFCA, Steven John Parker and Joanne Kim Rolls of Opus Restructuring LLP, were appointed as joint liquidators of HCW.