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Large real estate projects under Prince Group banned from sales after Chen Zhi's arrest, Prince Bank liquidation process initiated
Summary: According to reports from Red Star News, after the arrest of Prince Group founder Chen Zhi, the National Real Estate and Mortgage Business Regulatory Authority (NRPC) in Cambodia ordered the suspension of sales activities for five large apartment and residential development projects under the group on January 12. Buyers who have already signed contracts are ...
According to reports from Red Star News, after the arrest of Prince Group founder Chen Zhi, the National Real Estate and Mortgage Business Regulatory Authority (NRPC) in Cambodia ordered the suspension of sales activities for five large apartment and residential development projects under the group on January 12. Buyers who have already signed contracts are still obligated to fulfill their obligations, while those who have paid in full can apply for property transfer. It is reported that this administrative decision to suspend sales is based on recent significant illegal activities by Prince Group.
Additionally, the National Bank of Cambodia has announced the formal initiation of the liquidation process for Prince Bank in accordance with the country's current laws and regulations.
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Link: Large real estate projects under Prince Group banned from sales after Chen Zhi's arrest, Prince Bank liquidation process initiated [Copy]
