Sanum About To Settle With Lao Goverment

    Published in: Latest IntelligenceIn the last few months a company owned by Americans operating in the casino industry in Laos, the small landlocked country bordering on economic tigers Thailand and Vietnam, took the unusual step of suing its partner and host Government in the World Bank. The company, Sanum Investments, wasn’t quiet about doing so either. Headlines such as “Major Foreign Investor Sues Laos Over Multi-Million Dollar Investment Seizure” and “Lao Government Sued Over Investment “Misconduct”” appeared in print and online editions of media across Asia Pacific.The company claimed hundreds of millions of dollars in damages when a slot parlour it was operating was taken back by its former Lao partner and landlord after a business dispute. It then had a range of tax charges levied against it by the Lao Government on its casino operations in the southern Lao city of Savanakhet, who suspected Sanum Investments of falsifying...

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