The Battambang Court of Appeal upholds its ruling in favor of Lopan Investment

Electricité et Eaux de Madagascar (EEM) announced that the Court of Appeal in Battambang, Cambodia, upheld the dismissal of Pierre Ader's appeal against Lopan Investment Co., Ltd. The appeal concerned a claim for unpaid rent and the termination of the lease for the Victoria Angkor Resort & Spa. Filed in August 2021, the case was unfavorable to Ader in September 2023. The Court of Appeal has now issued a final ruling in March 2026 in favor of Lopan, which is owned by Victoria Angkor Company Limited, a subsidiary of EEM.

Pierre Ader was claiming payment of allegedly unpaid rent dating back to 2004, interest amounting to USD 898,744, and damages of USD 1,000,000. EEM's intervention led to the initial dismissal of these claims by the Siem Reap court. The Court of Appeal's decision strengthens Lopan Investment's position and validates the legal proceedings initiated by EEM.