Norwegian firm sues Mfone over $3.7m debt
A lawyer for Norwegian-owned power and electronics equipment firm Eltek Valere yesterday called on investors not to buy stakes in the Thai-owned mobile phone operator Mfone, and to await court's ruling. The lawyer’s appeal came after the Phnom Penh Municipal Court issued a warrant for keeping and protecting Mfone’s properties, in order to settle the company’s US$3.7 million debt to Eltek. Kouy Thunna, representative and lawyer for Eltek, said the two companies signed a contract for providing equipment for Mfone’s GSM network expansion in December 2008. He added that Eltek had duly supplied the equipment, yet Mfone had not paid them, with the debt now reaching $3,733,989. ...
