Silver Heritage Group has run into some serious problems in Nepal. They have been accused of building their Tiger Palace Resort on protected land and this recent event severely harmed their reputation in that country.

The company has been hit with another injunction, sent by Rupandehi District Court.

Although the nature of this second injunction isn’t disclosed, Siver Heritage spokesmen stated that company is currently considering legal advice on this matter and that they will keep the market informed about further developments in this regard.

Just as the second injunction, first one prevented the company from selling Tiger Palace too. Although five different offers were presented (including one for $34 million that would see the company selling everything they possess in Nepal) there is no chance, at least for now, for this deal to be realized.

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Silver Heritage Group is an Equal Opportunity Employer committed to diversity and inclusion. Nepal’s first international class casino opened in early 2015. Silver Heritage Group shuts down its two casinos in Nepal, Submitted by admin on Tue, - 09:46 Boutique Asian casino operator Silver Heritage Group Ltd says it has “closed until further notice” its two casinos in Nepal, as part of efforts in that country to contain the further spread of the Covid-19 virus. General Manager Casino at Silver Heritage Group LTD Nepal 374 connections. Join to Connect. Silver Heritage Group LTD. University of Adelaide. Company Website.

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Although the offer still stands officially, the buyers have been delayed on making any transactions because of the ongoing legal issues with Nepal.

A spokesperson in Silver Heritage explains:

“The company has yet to receive the deposit of U.S. $3 million … due to factors outside the control of both the buyer and the company and has, as a result, granted an extension for the payment of the deposit to 10 September 2019.”

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This is not the only strange situation currently going on in Silver Heritage. Current chief financial officer, Ben Watiwat is leaving the company and he will abandon his position on September 6. It looks like that Martin Wright, who served as company CFO from 2006 to 2017 is going to be appointed as a consultant in the next few days.

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The next few months will be an interesting period for Silver Heritage, especially with so many new events unfolding so fast.

Source:https://calvinayre.com/2019/08/27/casino/silver-heritage-hit-with-another-injunction-in-nepal/