​Tycoon told to pay up | Phnom Penh Post

Tycoon told to pay up

National

Publication date
12 August 2013 | 08:20 ICT

Reporter : Buth Reaksmey Kongkea

More Topic

Poster for the first Phnom Penh Feminist Film Festival. Facebook

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.

Contact PhnomPenh Post for full article

Post Media Co Ltd
The Elements Condominium, Level 7
Hun Sen Boulevard

Phum Tuol Roka III
Sangkat Chak Angre Krom, Khan Meanchey
12353 Phnom Penh
Cambodia

Telegram: 092 555 741
Email: [email protected]