Donaco International Ltd, an Australia-listed boutique operator of casinos in Indochina, says it is suspending — for two months — all litigation between the company and the former owners of its Star Vegas Resort and Club (pictured in a file photo) business in Poipet, Cambodia. The two parties have agreed to use the two-month period for settlement negotiations.
Donaco’s board said in a filing to the Australian Securities Exchange on Monday that the firm had signed a memorandum of understanding with the Thai vendors of the Star Vegas business, under which “all litigation matters” between the two sides “have been suspended for two months, to allow the parties to conduct settlement negotiations.”
Donaco said the suspension applied to a Singapore arbitration claim against the Thai vendors, a lease dispute in Cambodia, and “all other litigation matters” in Cambodia, Thailand and Australia.
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