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Logo of Phnom Penh Post newspaper Phnom Penh Post - Tycoon told to pay up

Tycoon told to pay up

Tycoon told to pay up

The Supreme Court on Friday upheld the lower courts’ decisions in the breach-of-trust case of tycoon and “Crocodile Grandmother” Chhin Sokountheary and Kov Hong, saying the businesswoman had violated the terms of a land-swap contract and owed Hong $3 million.

According to the 2008 contract, Hong agreed to trade a hotel and real estate in Sihanoukville to Sokountheary for cash and pieces of real estate in Phnom Penh.

However, when the price of land dropped in 2009, and Sokountheary failed to make up the difference, the court ruled in Hong’s favour.

Yesterday, Sokountheary’s lawyer, Sok Sam Oeun, called the decision “unjust”, saying that she had executed her end of the contract.

In an email, Sokountheary said she would seek Prime Minister Hun Sen’s intervention.

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