Supplier News
UK – The Ritz agrees settlement with Singapore billionaire
By Phil - 6 August 2014
The Ritz casino has agreed to settle on a £5m dispute with billionaire Bharat Kalwani who it had claimed paid with a cheque that bounced prior to a High Court trial.
The casino has reached an agreement with Mr. Kalwani, who is a Singaporean construction and property mogul, saying he ‘acted honourably’ and that he will continue playing there. The casino wanted the full £5m back along with £1,000 a day in interest.
A statement said: “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.”
