It is reported that as of today, Asian Leisure and Hospitality company Donaco International Limited has suspended all arbitration and litigation claims for a period of two months as it seeks a resolution to the ongoing dispute with Lee Hoe Property Co Ltd and its owners.
The owners of Lee Hoe Property Co were the previous vendors of Donaco International Limited’s Star Vegas property in Poipet, Cambodia; the largest casino resort in Poipet, whereby a dispute over land leasing began some three years ago.
Reportedly, both parties on each side of the dispute have agreed to use the two month period of mediation as a channel for negotiating a settlement and bringing an end to the ugly dispute.
Donaco International Limited also said that the suspension applies to any and all of the current disputes:
“The suspension applies to the Singapore arbitration claim against the Thai vendor, the lease dispute in Cambodia, and all other litigation matters in Cambodia, Thailand and Australia.”
Disputes have been rumbling on for five years between Donaco International Limited and the three former Thai owners of the casino resort, which they sold for around 325 million Euro.
Donaco International Limited said that a non-compete clause had been breached, which was agreed as part of the sale.
Star Vegas casino resort is dubbed the “most luxurious, and most successful casino resort in Poipet”. It is currently the nearest gaming and entertainment resort for legal gambling in the region.
Donaco International Limited is also suffering from internal disputes following a change in directorship on its board and a series of resignations.