Landlord Headfort Properties is suing FI System SA in a dispute over the lease of Centros House in Tabernacle Street, London EC2.
In a claim issued at London’s High Court and just made publicly available, Headfort seeks a declaration that Paris-based FI Systems is bound by the terms of an underlease of Centros House. The company also seeks an indemnity against the alleged default by FI System UK plc, and payment of rent arrears of £344,357.26, plus interest.
The claim says that, in November 2000, FI System UK entered into agreement for a 20-year underlease of the property. In August 2001, Headfort allegedly sought an order for specific performance of the agreement. The underlease was finally granted in August 2001, at an initial annual passing rent of £586,140, and the claim for specific performance was stayed generally.
It is alleged that FI Systems SA guaranteed FI System’s obligations, but, in breach of the underlease, FI System failed to pay the rent due on 29 September 2002, and FI System SA also failed to pay the money.
References: PLS News 28/3/03
