7m bounced cheque claim
19th March, 2008
The owner of London's Clermont Club has lost its bid to force an Arab bank to stump up a massive £7 million casino gambling debt.
Grosvenor Casinos had attempted to sue the National Bank of Abu Dhabi (NBAD), claiming that it had made a commitment to honour two dud cheques that were written by Arab millionaire Ahmed al-Reyaysa.
Mr al-Reyaysa had built up a reputation on London's casino circuit for being one of the capital's most prolific gamblers, reportedly placing some £99 million worth of bets in a single 18-month period
The incident in question relates to two bounced cheques for £3.07 million and £3.6 million respectively that were written from his NBAD bank account after a failed spot of action on the roulette table.
Though Grosvenor Casinos succeeded in winning a legal repayment order, they had been unable to secure the money as Mr al-Reyaysa promptly fled to the UAE - where British courts have no jurisdiction.
The firm therefore tried a different tack by going after the bank who issued the cheques, insisting that an NBAD employee had promised the cheque would be honoured.
However, a judge at London’s High Court rejected that claim, putting it down to "confusion or misunderstanding rather than dishonesty".
Mr al-Reyaysa has not commented on the matter.
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By Chris M
