Bank asked to mediate dispute
THE eldest son of the late and former Interior Minister Sin Song and some 100 relatives protested to demand t hat the government and Canadia Bank director Pung Kheav Se mediate in an ongoing 20-year-old land dispute.
The protest took place after Canadia Bank attempted to repossess Song’s house, where his eldest son Sin Visa l resides.
The attempt comes after Long Sak horn, Sin Song’s wife and Visa l’s mother placed the house and some la nd tit les as collatera l for a bank loan in 2012.
One tit le is for a 16,999sqm plot of land in Phnom Penh’s Russei Keo district. Three ot her la nd tit les are for 76,750sqm, 50,000sqm and 39,843sqm plots in Preah Sihanouk prov ince.
The last one is for a 74,146sqm plot in Kien Svay district, Kandal province, where Song is buried.
The house deed and land t it les were deposited at the bank for $ 6 million wit h a 13.2% interest rate per year.
Canadia Bank took legal action to demand payment with interest and penalties. Bank documents show $15 million is owed.
Visal appealed to the bank several times without result, and the bank intends to repossess the house.
He said media reports claim the bank is working on transferring the propert y rights of the house in which he, his wife and children live in.
Hence, he said he and the others protested and asked the government and the Canadia Bank director to mediate in the case.
“I’m tr y ing to solve t he $ 6 million debt. My mother and [siblings] colluded and put the house and land tit les up as bank collatera l. As t he eldest son, I knew nothing about t his. I would like to ask uncle Pung Kheav Se to accept the $ 6 million my mother Long Sak horn borrowed,” said Visa l.
He said the bank disagreed to the settlement and transferred the property rights of the Kien Svay plot without his consent.
Neither Long Sakhorn nor Kheav Se’s representative, Pen Ratha, could be reached for comment on Tuesday.
Kandal prov incia l governor Mao Phearun could not be reached for comment on Tuesday. Kandal prov incia l court spokesmen So Sarin and Ek Sun Reaksmey both declined to comment on the case.