Defrauded Investor Awaits Decision from Qatari Courts
Seeks Recognition of $6 Billion Award against a Member of Qatar's Ruling Family
DOHA, Qatar, April 25, 2019 /PRNewswire/ -- The Swifthold Foundation, which was defrauded by Sheikh Fahad Bin Ahmad bin Mohamed Bin Thani and his Qatari company, Fast Trading Group, awaits a crucial hearing on April 28 in the Qatari court, according to Delta Capital Partners, the American litigation finance and support firm that the foundation has retained.
In 2011, the U.K. High Court ruled in Swifthold's favor against Sheikh Fahad Bin Ahmad bin Mohamed Bin Thani Al-Thani, a prominent member of the Qatari royal family, for an award that now tallies to nearly $6 billion.
In January 2019, The Swifthold Foundation submitted a petition through its counsel, Sultan Mubarak Al-Abdulla, to the First Instance Court of Major Jurisdiction in Doha, Qatar, to enforce the award against the Sheikh.
The Sheikh has failed to appear at three separate hearings, thereby prompting the Court on April 14 to set a hearing for default judgment on April 28. If the Sheikh does not make an appearance on April 28 or before, the Court is expected to issue a default judgment thereby recognizing the U.K. High Court judgment and allowing the foundation to enforce it against the Sheikh's assets in Qatar. However, the Sheikh could appear, which would allow him to mount a defense leading to additional hearings.
A spokesperson for Delta stated, "Sheikh Fahad Bin Ahmad bin Mohamed Bin Thani has failed to attend three hearings to which he's been summoned to answer for the money he owes the foundation. It is heartening that the Qatari courts have recognized that this repeated failure to appear provides ample reason to rule in favor of the plaintiff and issue a judgment for nearly $6 billion. This saga has dragged on for many years through the United Kingdom Courts and the Sheikh has refused to participate in legal proceedings in both the U.K. and in his home country of Qatar, apparently believing he is above the rule of law. Soon we expect to see a step in the right direction, and we are eagerly awaiting the Qatari courts to follow through by issuing a default judgment, which will finally allow Swifthold to obtain the justice is so rightly deserves."
A spokesperson for the Swifthold Foundation commented, "This is a very important hearing and we expect the Qatari courts to continue their tradition of upholding international principles of law by granting the default judgment. The fraud took place nearly a decade ago and the process of satisfying the judgment has been arduous. We are near a positive conclusion and the default judgment should be the next step towards a successful resolution."
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