Guest Posted August 21, 2005 Report Share Posted August 21, 2005 This is probably not the best place to sort out a business dispute. But this does seem like a classic example of how farangs get burned in Thailand by not taking the proper precautions and conducting even a rudimentary due diligence. The original thread said that Boss Hog owned the business rather than the person who sold the business. When you buy a bar in NEP the primairy asset you are acquiring are rights under the lease. I am not blaming anyone here, but before buying a bar you'd think someone would confirm the rights they are acquiring under the lease. I have spoken to a few bar owners (or rather, people who think they are bar owners), and I am even more surprised about how little they know about their leasehold interest beyond their immediate lease. They know nothing about the rights of the person who is purporting to grant them a leasehold, a particularly dangerous position since you cannot assign or sublet in Thailand without the the consent of a lessor unless that lease agreement provides otherwise. In other words, you need to check the lease agreement of the guy who is granting you the lease and so on up the chain to the owner. I am not a lawyer, and to me this is pretty obvious, but apparantly not to people who buy and sell bars. And then of course you have all of the restrictions on foreigners owning businesses in Thailand. Thailand is extremely protectionist in this area. I wonder how many bar owners know about the alien business law, let alone are in compliance with this law. Anyway, it sounds as though someone learned an expensive lesson. Link to comment Share on other sites More sharing options...
Central Scrutinizer Posted August 21, 2005 Report Share Posted August 21, 2005 JackSchist, "Or is this another secret squirel issue?" Hahahahahaha! Yep, Secret Squirrel! Haven't heard that name in a long time. Didn't even think anyone remembered Secret Squirrel! Nicknamed my youngest son that because of his secretive nature. Seems he has competition around here as well. Damn that's an old cartoon. What'd they make? Like 20 cartoons that they showed over and over for years! Kind of like Space Ghost. Or to go way back ... Clutch Cargo. Remember Paddlefoot? :: How about the blonde woman in the buckskin outfit from the Philly area who used to show the cartoons. Sally Starr I think was her name on the show? Damn ... Secret Squirrel. Cent Link to comment Share on other sites More sharing options...
Redbaron Posted August 21, 2005 Report Share Posted August 21, 2005 When Cathouse was put up 'for sale' Top Cat was quite open in the fact that Boss Hogg "owned" the bar/lease, and subleased it to him (TC)... TC was advertising to sublease it to someone else from memory, as he wasn't able to spend as much time there as he had in the past. I'll look for the link now... Link to comment Share on other sites More sharing options...
Redbaron Posted August 21, 2005 Report Share Posted August 21, 2005 Here's the link Cathouse for sale thread Link to comment Share on other sites More sharing options...
Lusty Posted August 21, 2005 Report Share Posted August 21, 2005 You have the outright freehold owner,the leasee,the sub leasee and the sub sub leasee plus a load of thieving bar girls to contend with plus the pay off to the cops ::. I wouldn't touch any business even remotely connected to the Thai girlie nighlife scene with a barge pole is the long and short of it! Link to comment Share on other sites More sharing options...
Nervous_Dog Posted August 21, 2005 Report Share Posted August 21, 2005 Buyer be ware, but Top Cat definately told it as it was, maybe the buyers jjust don't have the skills. I am still amazed at the peple who come here and try and launch a business in a area they have no experience off. DOG Link to comment Share on other sites More sharing options...
Central Scrutinizer Posted August 21, 2005 Report Share Posted August 21, 2005 ND and all, So ... exactly what is the problem for the new "owner" and why is it he is "screwed"? Cent Link to comment Share on other sites More sharing options...
Lord Toad Posted August 21, 2005 Report Share Posted August 21, 2005 This was in Asiabugle and is correct to the best of my knwoledge: Just when you thought he had gone away, Boss Hog starts throwing his weight around again. For a long time, the Cathouse was on the market and was advertised with the Hog?s blessing on Sunbelt Asia as well as elsewhere. When it did eventually sell, but not through Sunbelt, the Hog threw all his toys out of his box, but nearly two months later. Why? He had granted a lease that he had agreed had value! He had even agreed it could be sold! I did ask the Boss and I suspect his main bitch is that he should have agreed the assignment (or sub lease) whatever it was. And yes, the person selling the lease should have got BH's formal consent to the assignee before handing over the keys to the bar. Looks like another unnecessary dispute to me. But Boss Hog loves those! Unusually it does not look like it is his fault! Link to comment Share on other sites More sharing options...
Stickman Posted August 21, 2005 Report Share Posted August 21, 2005 The latest I have heard is that this situation has developed into a nasty situation and a legal dispute has ensued. There are some big boy lawyers involved (i.e. Western lawyers, based in Bangkok, who charge what are basically Western fees). I am not prepared to say anything more than that. Link to comment Share on other sites More sharing options...
Central Scrutinizer Posted August 21, 2005 Report Share Posted August 21, 2005 LT, So will the guy who bought up the lease get his money back? Sounds a bit suspicious really, like a scam, not on TopCat's part, but on the Hogg's. If he wasn't happy with the agreement why wait 2 months to say so? And if he isn't why doesn't he just pay off the new owner/leasee and lease it to someone else? I don't see why the new leasee should get screwed because of this "miscommunication" between old leasee and the owner. Just sounds fishy to me, especially the two month lag time. Cent Link to comment Share on other sites More sharing options...
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