Cambodia Halts Sales of Prince Group's Real Estate Projects Amid Legal Issues

According to ChainCatcher, following the arrest of Prince Group founder Chen Zhi, Cambodia's Real Estate and Mortgage Business Regulatory Bureau (NRPC) ordered the suspension of sales activities for five major apartment and residential development projects under the group on January 12. Buyers who have already signed contracts are required to fulfill their obligations, and those who have paid in full can apply for property transfer. This administrative decision to halt sales is based on recent significant legal violations involving the Prince Group. Additionally, the National Bank of Cambodia has announced the initiation of liquidation proceedings for Prince Bank in accordance with the country's existing laws and regulations source: https://www.binance.com/en/square/post/35019070275809?utm_source=BinanceNewsRSS