Electricity Supply Nominees Ltd v London Clubs Ltd
Electricity Supply Nominees Ltd v London Clubs Ltd
- 1988
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- Estates Gazette (8834) 27 August 1988, 71-72(2) .
ChD 6 November 1988. Concerns a rent review arbitration to settle the best yearly rent at which the demised premises "are worth to be let in the open market by a willing lessor to a willing lessee"; the property in question being a casino . The problem arose as to whether accounts and other documents relating to the tenants trading, which are confidential to the tenant and therefore not available to any hypothetical lessor or lessee in the open market were admissible in evidence . The arbitrator decided they were not. However expert surveyors for both parties agreed that these details were highly relevant. The landlords claimed profits to be approximately £4.9m based on accounts of other casinos. However the tenants claimed that profits had never exceeded £1m and therefore wanted to show their accounts as evidence. It was held that these documents were admissible.
ChD 6 November 1988. Concerns a rent review arbitration to settle the best yearly rent at which the demised premises "are worth to be let in the open market by a willing lessor to a willing lessee"; the property in question being a casino . The problem arose as to whether accounts and other documents relating to the tenants trading, which are confidential to the tenant and therefore not available to any hypothetical lessor or lessee in the open market were admissible in evidence . The arbitrator decided they were not. However expert surveyors for both parties agreed that these details were highly relevant. The landlords claimed profits to be approximately £4.9m based on accounts of other casinos. However the tenants claimed that profits had never exceeded £1m and therefore wanted to show their accounts as evidence. It was held that these documents were admissible.