The Bank Refunds More Than 400 Tickets To Cancelled New Year’s Eve Party

by Caleb Workman
The Lance – News Editor

New Year’s Eve is a busy time for many and sometimes things fall through.

This is especially true for multi-club and bar owner Patrick Kim who had to shut down The Bank Nightklub after building it up to be the place to be for the night.

A bailiff’s notice, which was left on The Bank’s door prior to Christmas, stated the owners of the establishment owed their landlord, Dante Capaldi, nearly $120,000 in rent and fees.

According to a statement of claim issued Jan. 5 by The Bank, around Dec. 30, they received a notice from their landlord they would need to meet “financially extraneous conditions” including a payment of $10,000, 100 per cent of all liquor sales on Dec. 31 were to be paid to the province of Ontario, The Bank would have to pay the bailiff for his attendance at the event and the club would have to make a new lease agreement for the next five years.

The agents and owners of The Bank stated in their claim “… the imposition of the foregoing terms was tantamount to extortion, and is an exemplification of the high-handed, malicious, callous, inequitable, arbitrary and perverse conduct of Ontario and for particularly Capaldi in its dealings with the plaintiff in this regard.”

However, Kim said they had agreed via e-mailed correspondence to meet these terms Dec. 30, “in an effort to avoid an incident which would clearly be catastrophic to the plaintiff’s goodwill and reputation,” as stated in their claim.

The following day, Capaldi added further terms to be met if the The Bank wished to be open for their New Year’s Eve party which included an immediate payment of $20,000, $200 per hour paid to the bailiff for his attendance, liquor sales revenue, acknowledgement of the previously mentioned outstanding rent, as well as proof of insurance.

Furthermore, the claim states The Bank did everything they could to remain open but the added terms kept coming and it was very hard for them to keep up with it all.

Kim said he hopes the statement of claim is able to clarify the situation to all with any questions.

“I want to let everyone know that all tickets that were purchased were refunded by me personally before midnight,” said Kim. “We did all we could to open and it was such an unfortunate circumstance that we could not.”

The claim said over 400 tickets were pre-sold for the event but Kim said it was made near impossible for them to stay open especially after Capaldi and his group stopped responding to any forms of communication.

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