Grosvenor Sueing High Roller's Bank For Upto $18m
By Staff
Grosvenor Casinos is to go to court this week in order to recover over $14 million in unpaid wagers from one high-rolling player.

The UK land casino group claims that Ahmed Al-Reyaysa made $14.35 million in losing bets between 1999 and 2000 at its Clermont Club in London but that his cheques subsequently bounced when it tried to collect.

Grosvenor’s action in the Royal Courts of Justice in London is against the National Bank of Abu Dhabi (NBAD) with the Telegraph newspaper claiming that the case will see banking conventions underpinning the free flow of money around the globe challenged.

Grosvenor, which sold the Clermont to Malaysian billionaire Quek Leng Chan, won a judgment against Al-Reyaysa, a 45-year-old businessman from the United Arab Emirates, in May of 2001 but claims that it has yet to see a penny. It has taken action against his bank on the grounds that it is allegedly ‘bound by verbal approval to honour’ the bounced cheques.

The bank claims that it has no liability and it has twice tried unsuccessfully to have the action struck off. Grosvenor, owned by bingo operator Rank, stated that the bank has a duty to pay the cheques under the ‘uniform rules of collection’, which govern the collection practices for cheques and bills of exchange drawn up by the International Chamber of Commerce.

Grosvenor claims Al-Reyaysa’s cheques were given verbal approval by Mohammed Subh Al Sarraj, General Manager for the Ajman branch of NBAD, at the time and it is seeking up to $18 million, which includes interest and gaming tax paid to the Inland Revenue.

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