MFone workers told to wait

Former employees of the failed telecommunications company MFone have been told they can expect a decision next month on their claims for more than $4 million in compensation. Former Mfone section manager Bou Kunthea said after a meeting yesterday with offic-ials from the Ministry of Social Affairs, Veterans and Youth Rehabilitation, led by Secret-ary of State Vong Sovann, that attendees had agreed to reconvene next month. … Thaicom, Mfone’s parent company, released a statement last month saying M-fone’s insolvency application had been accepted and the court had appointed an administrator to handle the bankruptcy proceedings. Mfone is estimated to have been more than $70 million in debt to its creditors, which include the Chinese telecoms equipment provider Huawei Technologies. …

http://www.phnompenhpost.com/2013032062036/Business/mfone-workers-told-to-wait.html