Arbitration panel tells Lao government not to seize resort assets

An international arbitration panel has told the Lao government not to seize assets or take any further action that could exacerbate a dispute with Netherlands-based Lao Holdings. The ruling prevents the government from seizing a resort hotel and casino in Savannakhet, Savan Vegas, 

and from implementing a new 80 percent tax on gross casino revenue. Lao and its Sanum Investment unit filed the complaint against the government in August. They claim the government has imperiled and, in several cases, destroyed the value of its investments in the country, including the expropriation of the Thanaleng Slot Club in Vientiane and the imposition of millions of dollars in taxes and penalties against the Savan Vegas Hotel & Casino in Savannakhet.

 

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