International Computers Ltd (ICL) is taking Reading-based GIBT Ltd and LSI Industries Incorp, of Ohio, USA, to court in a £750,000 lease dispute.
The claim, issued in the High Court, says that in 1990 ICL assigned two leases of offices in Wigmore Lane Industrial Estate, Portman Road, Reading, to GIBT, and LSI acted as surety. ICL alleges that, in breach of covenants, both GIBT and LSI subsequently failed to pay the rent due to the landlord, leaving ICL liable to make payment.
ICL now seeks reimbursement of the rent arrears and is suing GIBT and LSI for a total of £778,114.74 with interest of £69,297.42 and continuing interest of £189.86 a day.
PLS News 24/8/00
