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

  • Prince injured, wife dies after accident

    THE wife of former First Prime Minister Prince Norodom Ranariddh, Ouk Phalla, 39, died while the prince was “severely” injured following a road accident in Preah Sihanouk province’s Prey Nub district on Sunday morning, officials said. Rananriddh, who is also the president of the Funcinpec

  • Bun Heang mocks US, threatens its citizens in scathing open letter

    After being hit with sanctions from the US Department of Treasury, Cambodian General Hing Bun Heang said he would retaliate against any US national who does not respect his country’s sovereignty, has ambitions to invade Cambodia or incites “traitors” in the Kingdom to do

  • Ranariddh 'seriously injured', his wife dies in accident in Preah Sihanouk

    THE wife of former first prime minister Prince Norodom Ranariddh has died. Ouk Phalla succumbed to injuries sustained in a traffic accident on National Road 4 in Preah Sihanouk’s Prey Nub district this morning. She and the prince were immediately rushed to the Preah Sihanouk

  • US slammed over BGU head as Foreign Ministry says sanctions violate international principles

    The Ministry of Foreign Affairs and International Cooperation (MFAIC) has condemned the US Department of Treasury for its sanctions, announced on Tuesday, against Cambodian General Hing Bun Heang for his alleged role in infringing human rights. In a statement, the ministry said it is disturbing