Defrauded Investor Scores Victory in Qatari Court Saga

Middle East - English

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Aug 24, 2020, 13:13 ET

DOHA, Qatar, Aug. 24, 2020 /PRNewswire/ -- The Swifthold Foundation, which was defrauded by Sheikh Fahad bin Ahmad bin Mohamed bin Thani Al Thani, a member of the Qatari Royal Family, and his Qatari company, Fast Trading Group, has been patiently waiting for the Qatari Enforcement Court to enforce Swifthold's $6 billion U.K. High Court Judgment since the Qatari Trial Court issued a Writ of Execution to formally recognize the Judgment in Qatar in the Summer of 2019.

In February 2020, the defendants filed an appeal with the Enforcement Court to seek a stay of the enforcement proceedings and to declare the enforcement proceedings invalid. In addition, he filed an appeal of the underlying recognition of the U.K. High Court Judgment with the Court of Appeal in Qatar.

On August 18, 2020, the Enforcement Court dismissed the defendants' appeal and now the enforcement of the U.K. High Court Judgment can continue unabated. According to Delta Capital Partners, the American litigation finance and support firm that the foundation has retained, this should be one of the last remaining hurdles to overcome before Swifthold can expect to collect significant proceeds from the defendants.

Delta's CEO, Christopher DeLise, stated, "It has been a long wait to resolve this appeal due to COVID-19, but we are very pleased by the Enforcement Court's ruling and are anxious to continue enforcement of the judgment against the defendants. The defendants' appeals were without merit and filed at the last minute solely to try to delay the inevitable and therefore we are now optimistic that the Qatari court will enforce without further delay."

As of today, no hearing has been set for the Court of Appeals hearing, but Delta and Swifthold's Qatari counsel believe the outcome will ultimately be the same if the courts follow established Qatari law and procedure and continue to respect international law.

Delta's CEO closed by commenting, "We are confident that the Qatari Court of Appeals will dismiss the defendants' appeal and Swifthold will finally have justice and the compensation it so rightly deserves in the very near future. "