The Ritz Casino.
The Ritz casino has dropped a dispute over a £5 million cheque that bounced on the evening before the High Court trial was due to commence, the London Evening Standard reports.
The casino accused billionaire, Bharat Kalwani, of paying for gambling spree in their club with a £5 cheque that bounced.
Mr Kalwani, a Singaporean, made his money in construction and property.
It was alleged that the tycoon bought gambling chips at the Rizt Club casino in October 2013, with a worthless cheque.
Just before the trial was due to start at the High Court, the casino and Mr Kalwani made an agreemen, and it is being reported that he will continue gambling there.
Lawyers acting for the Ritz stated in their High Court papers that two months after the tycoon’s spree at the club, the Ritz tried to cash his cheque. However, its bank, RBS, returned the cheque to the club unpaid, and told the casino that the account on which it was drawn had been closed since August 2012.
The casino sought £5 million as well as £1,000 a day in interest. However, as the trial was to begin, a joint press statement was released, stating:
“Mr Bharat Dharmadas Kalwani is a long-standing and respected member of the Ritz Club. Earlier this year the Ritz Club issued a claim against Mr Kalwani but is happy to clarify that the cheque at issue was not drawn on Mr Kalwani’s accounts.
“It is fully accepted that Mr Kalwani acted honourably. The claim has now been amicably settled on confidential terms.”
Both Mr Kalwani and the Ritz refused to comment any further.
The Ritz is still involved in the High Court case with another multi-millionaire who lost £2 million in one night at the club. She accuses the casino of “taking advantage” of her addiction to gambling.
Nora Al-Daher spent £2million gambling at The Ritz.
Two Little Fleas reported on July 8, how Nora Al-Daher – who is married to Omani Foreign Minister, Sayyid Badr bin Hamad bin Hamood Al-Busaidi, and lives in Muscat, Oman – ran up the huge loss in only a few hours at the famous London hotel’s exclusive club.
Mrs Al-Daher, 50, spent the money playing punto banco, a card game similar to baccarat.
She is blaming the club for her losses, and claims that staff should have stopped her from playing.
She said she did not want to gamble, but hours after arriving at the Ritz, her £1.7million cheque cashing limit had been reached, and extended since she was £2million down.
Her barrister, Robert Deacon, told the High Court: “Staff positively encouraged her when she was losing, saying, ‘Anything for you, Princess Nora. We trust you. No problem. Don’t worry… the next time you will get your money back’.”
The Ritz denies Mrs Al-Daher’s claims and insists that she was not put under pressure to place bets at their casino.
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