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Donaco’s Casino Gamble Matter in Cambodia has got Complicated

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Donaco International’s immersion in the legal proceedings with its biggest individual shareholder has got complicated. The shares of Donaco’s biggest institutional shareholder (Orchard Capital Partners Asia) which were not obtained through a loan default by Joey Lim (co-founder of Donaco International) have been seized by the Australian regulators.

After the demise of Joey Lim’s grandfather, Lim Goh Tong in 2007, Joey Lim handled his business and listed Donaco on the ASX by reverse takeover in 2013. He entered a deal to acquire Star Vegas, the largest casino in Poipet, which made him a regional player. Donaco invested US$360 million to own Star Vegas from the Thai businessman and politician, Somboon Sukjaronkraisri. However, Somboon entered an agreement to manage the casino for a couple of years with a guarantee of giving US$60 annually. Later, the two businessmen got entangled in a legal dispute due to the rights issue of Lim’s loan with Somboon’s shares.

After the failure of the agreement for Somboon’s management deal extension, the operation of two casinos up the road from Star Vegas contributed to an increase in the conflict with Donaco. Following Donaco’s efforts in upgrading Star Vegas guest rooms and its gaming floor, the casino unit has claimed that Somboon’s casinos violated the non-compete clause in the sales agreement. Due to this, the two parties are going through the arbitration process in Singapore and litigation procedure in Australia, Cambodia, and Thailand.

Lim failed to pay multiple payments in 2018 to the lender OCP Asia. Due to the loan defaults by Lim, OCP Asia acquired 27% shares of Donaco. Following this, Lim, Donaco director filed complaints to Australia’s Takeover Panel related to OCP Asia’s acquisition. It is decided that OCP Asia didn’t breach any regulations but it acquired shares at the time when the market didn’t have any knowledge about Lim’s loan default.

The growth of Thai casino industry has contributed to the introduction of many popular online casinos such as scr888. And hence it is important for Donaco International to resolves all its disputes to take advantage of the growth opportunities. Ending the complications is the only medium which could help Donaco to raise the value of its shares in the industry.

Jenny is one of the oldest contributors of Bigtime Daily with a unique perspective of the world events. She aims to empower the readers with delivery of apt factual analysis of various news pieces from around the World.

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World

Experts Highlight the Duties and Responsibilities of an Auto Accident Lawyer that People Should Consider Before Hiring One

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Results obtained from a global survey has highlighted that the demand for auto accident lawyers has been rising exponentially due to the rising number of accident cases. And many law experts have shared the importance of considering the duties and responsibilities of an auto accident lawyer before hiring one. A lot of people fail to get the right amount of compensation because of the lack of knowledge regarding what to expect from an attorney.

According to experts, an auto accident attorney has to clearly explain the rights of a person to him. He should be able to study the legal rights of a person as per the laws of a given state and include all the losses that a person has incurred in an auto accident. In addition to this, an auto accident lawyer has to remain in touch with his client so that a person can discuss every query at any time.

Secondly, experts said that an auto accident lawyer must provide the right advice to his client by interpreting the complex legal jargon. Many medical, legal, and insurance-related jargons is difficult for a person to understand on his own.

They said that an auto accident lawyer has to present his client with the best possible legal advice regarding his case so that he can make the right legal decision regarding his case. And most importantly, an attorney must be qualified enough to represent a personal injury case before the jury in a court by taking into consideration the legal procedures and other laws related to the case.

The main responsibility of an attorney is to seek the justice for his customer/client all personal and property damage. Car accident attorney should have to seek the compensation for his client and give his best to put you on winning side.

It is the responsibility of an attorney to collect all the necessary information related to the case including from police report, eye witnesses, evidences, drivers information from both side, insurance company of both side, health care provider and all the other useful information that can help in settlement.

The car accident attorney should have to document each and everything related to the case nothing should be verbal and while documenting he should write written discoveries to the opposition and answer the written discoveries from the opposition. He should also prepare and write the summons along with complaints. He should hire the experts if required to prove the client case which may include accident Reconstructions or may be medical expert.

Your lawyer must be able to discuss how your case will go further and especially if you don’t understand much, your effective participation will affect so you should know what the ups and downs are. He should also settle any outstanding medical bills with the client doctor.

Conclusion

In short, the main duties of your lawyer include preparation of the well-documented claim and making sure of your understanding of the case along with having a proactive mind to defend and win the claim.

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