Chinese investor allegedly fails to pay 7 million baht rent to Pattaya hotelier

[webfact]

Chinese investor allegedly fails to pay 7 million baht rent to Pattaya hotelier 

 

 

A leading hotel owner and boxing and fitness promoter in Pattaya has turned to the media and the police to complain about a Chinese investment group with offices in Chiang Mai and Bangkok who have reneged on a deal to lease rooms at his Pattaya hotel.

 

Prem Fairtex - also known as Prem Busala-Khamvong - came to an agreement with the Chinese two years ago to lease rooms for Chinese tourists at his Fairtex Sport Club and Hotel. 

 

The Chinese paid up every month until the pandemic hit and then,citing the fact that no Chinese were going to Pattaya anymore, they wanted a renegotiation. 

 

Terms were renegotiated but in February everything went quiet and no payments were made at all.

 

The contract was for 7 years and 7 months and Prem said he was out of pocket to the tune of a million baht a month.

 

Prem asked the police to investigate a possible case of fraud amounting to 40 million baht and via the media warned others who have signed deals with the Chinese to be wary of their going back on agreements. 

 

Source: Sophon Cable TV

 

 

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[andre47]

''Prem asked the police to investigate a possible case of fraud amounting to 40 million baht''

Fraud? I don't think so...it is just Covid 19 ==> no tourists ==> no money

[petermik]

ooh goodness gracious me...forget the money they have left you with the plague as payment

[Grumpy one]

Join the rest of the world who are suffering from the effects of the virus.

Do you think anyone would continue to rent rooms that they cant get to use

 

[keith101]

23 minutes ago, webfact said:

Chinese investor allegedly fails to pay 7 million baht rent to Pattaya hotelier 

Dude if your only owed 7 million why are you asking to have them investigate for 40 million do you expect them to pay for all your losses due to Covid .

[DaftToPutRealName]

19 minutes ago, keith101 said:

Dude if your only owed 7 million why are you asking to have them investigate for 40 million do you expect them to pay for all your losses due to Covid .

Yes, lol.

That's "his" money, he "deserves" it.

[keith101]

7 minutes ago, DaftToPutRealName said:

Yes, lol.

That's "his" money, he "deserves" it.

Maybe he expects them to pay for all the food and alcohol that he hasn't bought and nobody is going to eat or drink .

Edited September 14, 2020 by keith101

[ThaidDown]

Would've expected a 'force majeure' clause in a contract of that size and length.

 

 

[keith101]

Maybe he should try suing the Government for closing the borders making him lose so much money LOL .

[worgeordie]

1 hour ago, webfact said:

warned others who have signed deals with the Chinese to be wary of their going back on agreements. 

It's a two way street,Chinese should be wary of Thai's going back on agreements,

nothing else the Chinese could do really,this whole mess was unforeseen.

regards Worgeordie

[ThomasThBKK]

32 minutes ago, ThaidDown said:

Would've expected a 'force majeure' clause in a contract of that size and length.

 

 

Exactly, it's pretty much unheard of that such a contract would not have a force majeur/act of god clause, i won't believe it, even the most simple condo purchase and lease agreements have them... it's a standard in every contract.

 

And the thai government announce foreced majeur for the hotel industry: https://www.c9hotelworks.com/news/thai-hotel-closures-roll-force-majeure-announced

 

So they should be able to pull that clause, the thais are just <deleted> that force majeur can go both ways i guess... 

 

Also no sane person would go to the police with this, this is a litigation case in front of a litigation court handled by lawyers... they basically don't pay their rent, no different if you don't pay your landlord i would imagine - clearly nothing to do with the police. 

[Destiny1990]

He needs to go to his lawyer instead of to the police !

[PatOngo]

I think Thailand should attack China! 

[Scot123]

13 minutes ago, Destiny1990 said:

He needs to go to his lawyer instead of to the police !

Its Thailand and hi so Thais first port of call is the police with do you know who my uncle  is!!!! 

[ChipButty]

2 hours ago, ThomasThBKK said:

Also no sane person would go to the police with this, this is a litigation case in front of a litigation court handled by lawyers... they basically don't pay their rent, no different if you don't pay your landlord i would imagine - clearly nothing to do with the police. 

It is if he pays them I agree it's a civil action

[ChipButty]

4 minutes ago, Scot123 said:

with do you know who my uncle  is!!!! 

Why? are you lost?

[whiteman]

why am I not surprised 

[asean]

this is a civil matter nothing to do with the police. But with a little incentive and presto a criminal intent to defraud charge. 

[ronaldo0]

Looks rather young to be a leading hotel owner ? Guessing daddy gave him some to play with . ????

[terminatorchiangmai]

1 hour ago, Destiny1990 said:

He needs to go to his lawyer instead of to the police !

He needs to go to a shrink not the police or a lawyer if he thinks he will get that money.

[Justgrazing]

5 hours ago, webfact said:

 

The Chinese paid up every month until the pandemic hit and then,citing the fact that no Chinese were going to Pattaya anymore, they wanted a renegotiation

Ask the P M to deduct it from the sub's bill .. 

 

[redwood1]

I with the Chinese I would not pay Jack.......Who in their right mind would keep paying month after month for a zero return.....

[Patts]

6 hours ago, keith101 said:

Dude if your only owed 7 million why are you asking to have them investigate for 40 million do you expect them to pay for all your losses due to Covid .

Really, does it have to be spelt out for you? 

 

7 year contract that there were already 3+ years into. 1 million baht a month that hasn't been paid for 7 months and then presumably a further 33 months remaining on the contract (approximately). 

Edited September 14, 2020 by Patts

[Patts]

1 hour ago, ronaldo0 said:

Looks rather young to be a leading hotel owner ? Guessing daddy gave him some to play with . ????

Or could it be that Fairtex is a very successful boxing club owner/promoter with several world champs fighters on "One Championship" 

[biggles45]

"Do you think anyone would continue to rent rooms that they cant can't get to use" 

We have permanently rented a room in Pattaya for almost 8 years and spend 5 months a year there. We have not been there since March but have continued to pay the rent

[teacherclaire]

3 hours ago, PatOngo said:

I think Thailand should attack China! 

Or build a Great Wall all around.

[newnative]

Walk it off.

[ukrules]

8 hours ago, webfact said:

The contract was for 7 years and 7 months and Prem said he was out of pocket to the tune of a million baht a month.

That's unfortunate.

 

[NCC1701A]

8 hours ago, webfact said:

Prem asked the police to investigate a possible case of fraud amounting to 40 million baht and via the media warned others who have signed deals with the Chinese to be wary of their going back on agreements. 

[Rookiescot]

8 hours ago, ThaidDown said:

Would've expected a 'force majeure' clause in a contract of that size and length.

 

 

Try enforcing that with Chinese companies.