Qatar's QFC asks court to seek firm's liquidation

SILVER LEAF: Qatar Financial Centre (QFC) Authority asks for plug to be pulled on private equity firm. (Getty Images)

The Qatar Financial Centre (QFC) Authority has asked a court in Qatar for an order to liquidate private equity firm Silver Leaf Capital Partners for failing to meet unspecified commitments, the court said on Sunday.

The civil and commercial court of the Qatar Financial Centre said no further details would be released while the court was in session.

Silver Leaf received a licence to operate in the QFC in February 2008.

"The matter before the court concerned a petition by the Qatar Financial Centre Authority for an order that Silver Leaf Capital Partners LLC be wound-up on the grounds it is unable to meet its commitments," the court said in a statement.

Qatar established the QFC in 2005 as a hub for global and regional financial companies, rivalling financial centres in Bahrain and Dubai. About 104 banks, law firms and insurance companies are registered with the QFC. (Reuters)

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