Logo of Phnom Penh Post newspaper Phnom Penh Post - Loran owners resolve disputes, end lawsuits

Loran owners resolve disputes, end lawsuits

Loran owners resolve disputes, end lawsuits

Disputes between owners at prominent rice miller Loran Import Export Company have been resolved, with Chief Executive Officer Lim Bunheng set to buy the stake held by prominent media personality Soy Sopheap and his associates, company officials said yesterday.

“We have agreed to end all disputes between [Loran] and Soy Sopheap, with both parties agreeing to withdraw all lawsuits from the court,” Loran Vice President Lim Bunseng told The Post yesterday.

“We also agreed that from now on we will consider each other as family.”

Soy Sopheap and three others had become shareholders in Loran Import Export in July 2010. The dispute stems from November of that year, when Lim Bunheng set up Loran Group excluding Soy Sopheap and three others from the ownership. Soy Sopheap’s lawyer Kuoy Thunnas has said it was unfair to set up a potentially competing company, while Loran Import Export lawyer Khiev Sambo countered that Soy Sopheap’s group had not paid in full for its shares.

Yesterday, Lim Bunseng said the two parties had agreed to end several other legal disputes during a meeting late on Wednesday.

Lim Bunheng and Nokorwat newspaper Managing Editor Touch Kongkea had previously launched lawsuits against Soy Sopheap, accusing him of stealing secret email correspondence and defamation, said Kuoy Thunna. “He [Soy Sopheap] has not committed the crimes as accused,” said Kuoy Thunna, adding he had asked for the charges to be dropped.

But Lim Bunseng told The Post yesterday that the correspondence had been stolen without permission, and sent a letter to Prime Minister Hun Sen about the correspondence.

Loran had also filed a defamation lawsuit to the Phnom Penh Municipal Court over Soy Sopheap’s commentary on June 30, 2011, on Bayon TV, claiming Loran avoided paying taxes, said Lim Bunseng. “His
commentary is not true and had affected my company’s reputation and honour,” he said.

MOST VIEWED

  • Hun Sen ready to ‘break record’, says Rainsy lost

    Caretaker prime minister Hun Sen used a meeting with 18,400 factory workers on Wednesday to predict that he would beat the record for being the world’s longest-serving non-royal leader. He also used the platform to slam political opponent Sam Rainsy who he said had lost

  • Sihanoukville land prices skyrocketing amid breakneck development

    Sihanoukville, the Kingdom’s most famous beach destination for tourists, is seemingly becoming a paradise for Chinese investors as well. The huge influx of Chinese investors has caused property values to rise, especially the price of land, which has nearly doubled in some places near

  • US names new ambassador to Cambodia

    US President Donald Trump on Friday appointed W Patrick Murphy as the new US Ambassador to Cambodia, replacing incumbent William A Heidt. A press release posted on the White House’s website said nominee W Patrick Murphy is currently acting principal deputy assistant secretary at

  • Kingdom is at a crossroads between East, West after poll

    It was dubbed a success by caretaker prime minister Hun Sen after the electoral victory of his Cambodian People’s Party (CPP), which is poised to take all seats in the National Assembly. But the July 29 national election has not been positively looked at by