Donaco is still chasing Thai merchants in Singapore Australia

Donaco International Chairman Stuart McGregor said the company’s legal strategy would remain unchanged over a dispute between his company and the former owner of its Star Vegas Resort and Club (pictured) business in Poipet, Cambodia. This comes despite a Cambodian appeals court ruling overturning a preliminary injunction application that ordered the closure of two rival casinos, which Donaco says are managed by former Thai partners.

“On October 5, 2018, we were informed that the Court of Appeals had decided to dismiss the preliminary injunction application, but a ruling has not yet been issued. This is not a decision on the merits of our argument,” McGregor said in a speech to the group’s annual general meeting on Thursday.

“The original order has never been implemented, so it has no impact on the situation on the ground,” he said, adding that it also has no impact on our legal strategy of continuing to track suppliers in Singapore arbitration and in Australian courts.

Donaco was the first to receive a preliminary injunction order in December 2017 ordering the closure of two competing casinos, identified as Star Paradise and Paramax. “However, this order was not enforced,” Mr McGregor said.

“One of these (Paramax) was owned by two of the supplier’s sons until August 2018. Ownership was then transferred to a person in Thailand,” the chairman said. “Star Paradise changed its name to Windsor and continues to operate.”

The company’s main legal claim is in Singapore arbitration, which is seeking US$190 million in damages from its former business partners, according to Donaco. The claim is still in preliminary stages and is scheduled to be heard on July 29, 2019.

“This claim is supported by a freeze order on the supplier’s stake in the company, which has been extended to October 4, 2019,” Mr McGregor said.

“We are actively pursuing all legal means to stop the illegal operations of competing casinos and to compensate for the financial damage suffered by breach of contract,” he added

Australia-listed Donaco International, which operates casinos in Cambodia and Vietnam, posted a legal net loss of A$124.5 million ($91.1 million) in taxes for the 12 months ended June 30, taking into account the non-cash impairment cost of A$143.9 million to the casino license value of the Star Vegas resort due to a dispute with a Thai supplier at the venue.

BY: 카지노사이트 추천

Leave a Reply

Your email address will not be published. Required fields are marked *

Previous post Internal FA Crackdown Wonju DB
Next post Pukuok Casino Allowing Locals Gambling