Electricité et Eaux de Madagascar Wins Key Litigation in Cambodia
Electricité et Eaux de Madagascar announces that the Battambang Court of Appeal in Cambodia has upheld the dismissal of the claim filed by Pierre Ader against Lopan Investment Co., Ltd, a subsidiary held through Victoria Angkor Company Limited. This judicial decision concludes a commercial dispute that has been ongoing since August 2021.
The Battambang Court of Appeal confirmed the judgment of the first instance court of Siem Reap Province, which had already dismissed Pierre Ader's request for rent payments and termination of the lease of the Victoria Angkor Resort & Spa against Lopan Investment Co., Ltd. Pierre Ader, acting on behalf of Victoria Angkor Estate Co., Ltd, had claimed payment of allegedly unpaid rents since 2004, along with interest, as well as the return of the hotel buildings and damages. The Siem Reap court had already rejected Pierre Ader's claims in September 2023, before this confirmation on appeal.
EEM's Involvement in the Legal Proceedings
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EEM, as the parent company, intervened in this legal case in Cambodia. Lopan Investment Co., Ltd is owned by the Cambodian subsidiary Victoria Angkor Company Limited, which is in turn controlled by EEM. The dispute involved hospitality activities within the Asian sector, which are part of the group's diversified portfolio.
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