Temporary Provisional Disposition Not Affecting Operation Nepal
The operator of Australian-listed Asian Casino Silver Heritage Group Ltd. said temporary injunction and legal action against two of the group's subsidiaries in Nepal "does not pose an immediate significant commercial or legal impact or risk to the operation of the company" in Nepal. The company owns and operates casino property Tiger Palace Resort Bairahawa on the Indo-Nepal border.
The Kathmandu Post reported in July that Nepal's Lupandehi district court issued a temporary order against two local subsidiaries of Silver Heritage, preventing the group from selling the Tiger Palace resort (pictured) or developing any more properties.
The court order was in response to a warrant from the local water consumer commission, according to the newspaper. The latter agency claimed there had been some construction related to casino properties on four public land sites.
Silver Heritage said in a filing on Friday that it had sought independent advice from a Nepalese legal adviser after formally serving court papers related to the temporary injunction application.
"The scope of temporary injunction applications is limited to unused government land that has never been legally registered in the name of a company (or subsidiary) and is rather within the boundaries of Tiger Palace Resort Bayra," Silver Heritage told the Australian Stock Exchange.
"As such, the restraining order does not restrict the sale or construction of all sites legally owned by the Company through its subsidiaries," the company said, adding that it was "to defend these procedures."
Silver Heritage revealed on July 31 that it received a $33.9 million offer to buy the Nepalese casino "Operation." In addition to the Tiger Palace Resort, the group also runs games at Millionaire's Club and Casino in Kathmandu, the capital of Nepal.
In Friday's filing, the company said the community surrounding Tiger Palace Resort has confirmed strong and ongoing support for the company and casino resort operations.
BY: 안전 슬롯사이트
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