5th December 2022
On 24 November, the Qatar International Court handed down judgment in Bank Audi LLC ‘BAQ’ v Al Fardan Investment Company and Others [2022] QFC (F) 20, where Laurence Page acted for the successful Claimant.
BAQ issued a claim in the QICDRC against five Defendants where the court ruled in favour of BAQ against all Defendants except the third (Mr. Al Fardan). This was due to a counterclaim raised by Mr. Al Fardan stating that:
(i) BAQ was in breach of contract by refusing to pay him in respect of a USD 20 million investment or (ii) BAQ is liable to him in damaged by reason of negligent misstatement
In this judgment, the court dismissed Mr. Al Fardan’s counterclaim against BAQ for damages in relation to a USD 20 million investment which Mr. Al Fardan made in a Lebanese bank in December 2016.
Read the full judgment below:
Bank-Audi-LLC-v-Al-Fardan-Investment-Company-LLC-and-others-Sealed-Judgment-24-November-2022-2Download
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