Nightclub tycoon Keith Gibbon may be forced to sell his £400,000 home in Newcastle upon Tyne to pay for rent arrears at one of his clubs.
Amadeus Properties, which leases club premises in Manchester to Gibbon’s company Lazi Leisure, claims that the investor has failed to pay £64,000 in rent arrears, which puts him in breach of a High Court order of December 2004.
Amadeus allegedly obtained a final charging order over the Montagu Avenue property in February, and is now asking the High Court to order its sale. The house is said to be subject to a £188,000 mortgage with the Bank of Scotland.
Rent for the bar, known as Idols in Oldham Street, was fixed at £64,000 pa in November 2003.
Lazi Leisure owns several nightclubs in the North-East, including the Sunderland-based Annabels bar and the Idols and Pravda chains.
Amadeus Properties Ltd v Gibbon (t/a Lazi Leisure) Chancery Division
Claim Number: HC05C00411
Claim Date: 23 February 2005
Issued By: Arbeid & Golstein
References: EGi Legal News 21/04/05
