QFC 0071/2023, [2024] QIC (F) 15 issued on 4 April 2024

Amberberg Limited vs Prime Financial Solutions LLC and others

This case involved a claim for compensation by a shareholder who had been damaged by a breach of financial services rules that they to the company they had been invested in being unable to undertake financial services work worldwide. A jurisdictional challenge was put forward by two employees included in the list of defendants who were Lebanese nationals who now lived in the USA and UAE. A key issue was that the claimant who was a shareholder in a QFC entity was not a QFC entity themself. The claims against the two employees were based on a breach of a duty of care and not their employment contracts which they had with the QFC ciompany.

Background