As PLO reported, Mrs. Truong My Lan recently filed an appeal against the whole first-instance judgment of the case involving Van Thinh Phat Group, Saigon Commercial Joint Stock Bank (SCB), and related entities, provisionally concluding the first-instance trial’s phase 1.
In the first-instance judgment, one of the contents ruled by the court that garnered much attention was the People’s Court forcing Quoc Cuong Gia Lai Joint Stock Company (Quoc Cuong Gia Lai Company) to refund the entire amount of nearly VND 2,883 billion it received from Ms. Truong My Lan to fulfill her obligations in the whole case.
Continuing the attachment of assets and real estate properties related to Quoc Cuong Gia Lai Company to ensure the company’s obligations.
Ms. Truong My Lan. Photo: HOANG GIANG
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According to the first-instance judgment, 475 real estate properties related to Quoc Cuong Gia Lai Company include: 301 land use right certificates, 21 notarized contracts, 147 compensation agreements for land parcels in Phuoc Kien Commune, Nha Be District, HCMC, belonging to the Bac Phuoc Kien Residential Area Project, and 6 land use right certificates in Phong Phu Commune, Binh Chanh District, HCMC.
The People’s Court commented that the defendant, Truong My Lan, used Sunny Land Investment Company (Sunny Company) to sign a contract to promise to buy and sell the Bac Phuoc Kien Residential Area Project in Phuoc Kien Commune, Nha Be District, HCMC, with Quoc Cuong Gia Lai Company, priced at VND 14,800 billion.
Ms. Lan paid nearly VND 2,883 billion so that Quoc Cuong Gia Lai could continue to pay compensation, clear the land, and then receive back from the company the documents related to the compensation and clearance of the above-mentioned project.
In addition, Ms. Nguyen Thi Nhu Loan (CEO of Quoc Cuong Gia Lai) also handed over 6 land use right certificates in Phong Phu Commune, Binh Chanh District, HCMC, to the defendant Truong My Lan, for the purpose of borrowing additional money.
Quoc Cuong Gia Lai Company sued Sunny Company for commercial arbitration regarding the failure to pay money on time in the contract to promise to buy and sell dated March 29, 2017.
The Arbitration Council under the Vietnam International Arbitration Center issued the verdict No. 63/20HCM dated May 10, 2023, declaring that Quoc Cuong Gia Lai Company’s termination of the aforementioned contract to promise to buy and sell was in accordance with the provisions of the contract and the law, and did not order Quoc Cuong Gia Lai Company to pay money to Sunny Company.
However, this verdict of the Vietnam International Arbitration Center has been annulled by the HCMC People’s Court pursuant to the decision dated December 5, 2023.
According to the People’s Court, in order to secure the recovery of assets for the state as well as the rights of related parties, it is necessary to continue the attachment to ensure that Quoc Cuong Gia Lai Company refunds the entire amount of nearly VND 2,883 billion it received from the defendant, Truong My Lan.
This amount of nearly VND 2,883 billion is to ensure the enforcement of the judgment for Truong My Lan throughout the case; if the full amount is refunded, Quoc Cuong Gia Lai Company will receive back all the real estate properties and related documents.
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Regarding the case, for 16 real estate properties in Phuoc Kien Commune, Nha Be District, HCMC, with an area of about 1 ha belonging to the Bac Phuoc Kien Residential Area project, the People’s Court considered that these real estate properties were owned by Tran Duy Binh, Tran Tuan Anh, and Phan Nhut Phuong. These individuals stated that they contributed money to buy them together with Nguyen Ngoc Duong (deceased). However, the defendant, Truong My Lan, stated that she had spent VND 500 billion for Nguyen Ngoc Duong to buy about 1 ha of land belonging to the above-mentioned project. The People’s Court considered that Nguyen Ngoc Duong is now deceased, and the documents in the case file are not sufficient grounds to determine that these real estate properties belong to Truong My Lan. In order to have the basis for handling them in accordance with the provisions, it is necessary to continue attaching these real estate properties and hand them over to Agency C03 of the Ministry of Public Security to continue investigating to clarify them for settlement in the next phase of the case. |
Song Mai
