Arbitration panel rules on Covid rent arrears cases
Falcon Chambers Arbitration, the independent arbitration panel empowered by the government to reduce or uphold commercial rent arrears generated during the Covid-19 pandemic, has handed down a number of decisions.
In a decision given to the parties in February, arbitrator Catherine Taskis KC reduced a rent debt owed by a unit of casino operator London Clubs International (LCIL) to landlord UKRO Property Holdings.
According to the decision, LCIL’s Nottingham casino, opening from the Axis on Upper Parliament Street, had fallen into around £500,000 of rent arrears over the pandemic period. The arbitrator decided that the rent arrears should be reduced to £209,100 in three increasing instalments between December 2023 and December 2024.
Falcon Chambers Arbitration, the independent arbitration panel empowered by the government to reduce or uphold commercial rent arrears generated during the Covid-19 pandemic, has handed down a number of decisions.
In a decision given to the parties in February, arbitrator Catherine Taskis KC reduced a rent debt owed by a unit of casino operator London Clubs International (LCIL) to landlord UKRO Property Holdings.
According to the decision, LCIL’s Nottingham casino, opening from the Axis on Upper Parliament Street, had fallen into around £500,000 of rent arrears over the pandemic period. The arbitrator decided that the rent arrears should be reduced to £209,100 in three increasing instalments between December 2023 and December 2024.
In a decision given to the parties in March, arbitrator Martin Dray gave Mayfair fashion boutique Isabel Marant two years to pay rent arrears of £141,000.
According to the decision, the boutique on Bruton Street, W1, had asked the arbitrator to write off the debt, or allow payment in 24 monthly portions. The landlord had asked to be paid in full over six months. Instead, the arbitrator decided that the boutique should pay in full, in 24 equal monthly payments.
In another decision given to the parties in March, arbitrator Martin Dray gave Glendola Leisure Ltd, the operators of Primrose Hill gastropub The Lansdowne, two years to pay rent arrears of £163,000 to landlord Mitchells & Butlers.
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