Siem Reap Hotel Dispute Has No End in Sight

18 January 2013
The Cambodia Daily
Economy and commerce / Investment / Judiciary and courts / Siem Reap
Appeal Court of Cambodia / Council for the Development of Cambodia / Eaux et Electricite de Madagascar / EEM / Embezzlement / EMM Shareholders / Fine Sky Investment Cambodia / Francois Gontier / Gabriel Teo / Les Jardins du Bassac / Paris Court of Appeal / Pierre Ader CEO / Royal Residence / Siem Reap / Siem Reap Provincial Court / Supreme Court of Cambodia / Victoria Angkor hotel / Victoria Angkor Resort and Spa

A prolonged court case between two French investors in Siem Reap's landmark Victoria Angkor hotel is at a standstill after auditors ordered by the Supreme Court to examine the hotel's finances were denied access to the books this week. In a dispute that goes back to 2005, Pierre Ader, the CEO of Fine Sky Investment Cambodia, which owns the Les Jardins du Bassac serviced apartments on Norodom Boulevard, alleges that his partners, Francois Gontier, embezzled hundreds of thousands of dollars from the hotel's accounts between 2003 and 2009. ... However, the Supreme Court in June ruled in Mr. Ader's favor and ordered a full audit of the Victoria Angkor. ...

http://www.cambodiadaily.com/business/investment-dispute-over-luxury-hotel-drags-on-7903/