Penguin Books has launched a High Court claim for more than £50,000 against Leicester-based company Wire Tree in a dispute over leased premises at Bridgesmith Gate, Nottingham.
The claim says that Penguin Books took a 25-year lease of the premises from March 1984, at a rent of £20,000 pa. In 1990 it assigned its interest in the property to Penguin Nominees, later known as Phoenix Nominees, which in turn, assigned the premises to Sherbrooke Holdings.
Wire Tree was alleged to be a party to the licence, acting as surety for the obligations of Sherbrooke, and also as surety when Sherbrooke, in liquidation, assigned the licence to Bespoke Investments.
However, the claim alleges that from March 2000, Bespoke had failed to pay any rent or insurance rent, and, in December 2000, was put into creditor’s voluntary liquidation.
In September 2000 and January 2001 the landlord served notices on Penguin Books, under the Landlord and Tenant (Covenants) Act 1995, seeking payment by Bespoke of the unpaid rent and insurance.
In June 2001 Penguin paid £48,573.78 to the landlord, and, as the original tenant, now seeks an indemnity from Wire Tree, as surety for the ultimate leasehold interest of the premises.
Penguin is seeking £48,573.78 together with interest of £1586.30, plus continuing interest of £10.65 per day.
PLS News 09/01/02
