Logo of Phnom Penh Post newspaper Phnom Penh Post - Bank asked to mediate dispute

Bank asked to mediate dispute

Content image - Phnom Penh Post
Sin Visal speaks to reporters during the protest to demand resolution to a family property dispute. Mech Dara

Bank asked to mediate dispute

The eldest son of the late and former Interior Minister Sin Song and some 100 relatives protested to demand that the government and Canadia Bank director Pung Kheav Se mediate in an ongoing 20-year-old land dispute.

The protest took place after Canadia Bank attempted to repossess Song’s house, where his eldest son Sin Visal resides.

The attempt comes after Long Sakhorn, Sin Song’s wife and Visal’s mother placed the house and some land titles as collateral for a bank loan in 2012.

One title is for a 16,999sqm plot of land in Phnom Penh’s Russei Keo district. Three other land titles are for 76,750sqm, 50,000sqm and 39,843sqm plots in Preah Sihanouk province.

The last one is for a 74,146sqm plot in Kien Svay district, Kandal province, where Song is buried.

The house deed and land titles were deposited at the bank for $6 million with a 13.2% interest rate per year.

Canadia Bank took legal action to demand payment with interest and penalties. Bank documents show $15 million is owed.

Visal appealed to the bank several times without result, and the bank intends to repossess the house.

He said media reports claim the bank is working on transferring the property rights of the house in which he, his wife and children live in.

Hence, he said he and the others protested and asked the government and the Canadia Bank director to mediate in the case.

“I’m trying to solve the $6 million debt. My mother and [siblings] colluded and put the house and land titles up as bank collateral. As the eldest son, I knew nothing about this. I would like to ask uncle Pung Kheav Se to accept the $6 million my mother Long Sakhorn borrowed,” said Visal.

He said the bank disagreed to the settlement and transferred the property rights of the Kien Svay plot without his consent.

Neither Long Sakhorn nor Kheav Se’s representative, Pen Ratha, could be reached for comment on Tuesday.

Kandal provincial governor Mao Phearun could not be reached for comment on Tuesday. Kandal provincial court spokesmen So Sarin and Ek Sun Reaksmey both declined to comment on the case.

MOST VIEWED

  • Hun Sen: Full country reopening to be decided in two weeks

    Prime Minister Hun Sen has announced that if the Covid-19 situation remains stable for 15 consecutive days from the end of the October 5-7 Pchum Ben public holiday, Cambodia will reopen fully, albeit in the context of Covid-19 whereby people have to adjust their lives to

  • Cambodia sets new Covid-19 quarantine rules

    The government has modified Covid-19 quarantine requirements, shortening the duration for, among others, Cambodian officials, foreign diplomats and delegations, investors and inbound travellers in general. According to an official notice signed by Minister of Health Mam Bun Heng late on October 16, quarantine length for Cambodian

  • Cambodia unveils new quarantine regulations

    The government has modified Covid-19 quarantine requirements, shortening the duration for, among others, Cambodian officials, foreign diplomats and delegations, investors and inbound travellers in general. According to an official notice signed by Minister of Health Mam Bun Heng late on October 16, quarantine length for Cambodian

  • Hun Sen: Cambodia set to fully reopen

    Prime Minister Hun Sen concludes that the October 5-7 Pchum Ben public holiday, during which many people either flocked to their hometowns for family reunion or gathered at tourist attractions across the country, has not caused an outbreak of Covid-19. In a special address to

  • Will Evergrande change the way Chinese developers do business in Cambodia?

    China’s property sector policy has exposed the grim financial condition of real estate developers including those operating in Cambodia, which raises questions over the viability of their projects and business going forward The dark blue netting draping over one of Yuetai Group Co Ltd’

  • Cambodia voted ‘world’s friendliest country’ in Rough Guides reader poll

    Cambodia ranked number one among the “World’s Friendliest Countries”, according to a reader poll conducted by London-based international website “Rough Guides”. Taking submissions through Twitter and Facebook, “Rough Guides”, a well-known travel agency and publisher of guidebooks, said the Kingdom “was by far the