http://www.ggrasia.com/donaco-gets-freeze-on-shares-held-by-thai-casino-vendors/

 

Short story: Australian listed company Donaco purchased a casino for $360 million from a Thai. The Thai illegally opened garage casino next door and took his VIP clients with him.

 

That's ladies and gentleman another example of why never do any business with Thais. Greed has no limits, even $360 million limit.

The Thai didn't illegally open anything anywhere.  The other casinos were legal, and already operating.   Donaco claims their agreement had a non-compete clause.  Since we haven't seen their agreement, we don't know what the agreement said, or whether such clauses are even enforceable in Cambodia.  There are also several corporations which, albeit closely related, may be separate entities under the contract, or under Cambodian corporate law.  Looks like a typical contract dispute that happens all over the world when the parties disagree.

 

Not to mention, buying into a casino in Cambodia?  What could possibly go wrong?

 

Edited April 5, 20188 yr by impulse

8 minutes ago, impulse said:

Donaco claims their agreement had a non-compete clause.  Since we haven't seen their agreement, we don't know what the agreement said,

Every respectable company, and I think if we talk about that kind of money this will be one of them, will have clause like that in their contracts.

 

10 minutes ago, impulse said:

or whether such clauses are even enforceable in Cambodia. 

A contract is a contract anywhere in the world, so if you sign it that mean you agree to the terms

16 minutes ago, janclaes47 said:

Every respectable company, and I think if we talk about that kind of money this will be one of them, will have clause like that in their contracts.

 

A contract is a contract anywhere in the world, so if you sign it that mean you agree to the terms

 

Contracts are subject to the laws of the country specified in the agreement, and the laws where the entities will operate.   If you sign a contract with terms that can't be enforced,  you need to find a better international attorney.  I've seen multi billion dollar contracts in the oil business that had clauses costing the signatories hundreds of millions of $$$ because they didn't do their diligence. 

 

Happens every day.  All over the world.  Caveat emptor. 

 

BTW, what level of respectability would you assign to a company that makes their money from the vices and addictions of their customers?

 

 

Edited April 5, 20188 yr by impulse

Just now, impulse said:

 

Contracts are subject to the laws of the country specified in the agreement, and the laws where the entities will operate.   If you sign a contract with terms that can't be enforced,  you need to find a better international attorney.  I've seen multi billion dollar contracts in the oil business that had clauses costing the signatories hundreds of millions of $$$ because they didn't do their diligence. 

 

Happens every day.  All over the world.  Caveat emptor.

 

 

I didn't read the article in the links before I made my first post, but did afterwards, and noticed this quote which makes me believe the Cambodian court agrees with the contract.

 

In late December, a Cambodian court issued an interim injunction to close Star Paradise. According to Donaco’s ASX filing relating to that order, the Cambodian court had given the defendants the option of deferring execution of the injunction, by depositing a guarantee of US$360 million.

4 minutes ago, janclaes47 said:

 

I didn't read the article in the links before I made my first post, but did afterwards, and noticed this quote which makes me believe the Cambodian court agrees with the contract.

 

In late December, a Cambodian court issued an interim injunction to close Star Paradise. According to Donaco’s ASX filing relating to that order, the Cambodian court had given the defendants the option of deferring execution of the injunction, by depositing a guarantee of US$360 million.

 

And Cambodian judges are noted for their fair dealing?

 

4 hours ago, impulse said:

 

And Cambodian judges are noted for their fair dealing?

 

You are responding with non sense to every argument. You won the White Knight reward of the day.