The Biggest Land Dispute in Central Vietnam: Finalizing Financial Obligations with the Developer

Recently, the Standing Committee of the Quang Nam Provincial Party Committee has been closely monitoring and actively engaging with households and businesses, focusing on directing provincial agencies, branches, and departments to provide support and facilitate the completion of legal procedures for investors.

The Standing Committee appreciates the cooperation of the households and acknowledges the challenges they have faced. However, Bach Dat An Joint Stock Company has not fully fulfilled its responsibilities as the investor for the three projects, particularly regarding financial obligations.

To definitively address the lingering issues in the three projects and protect the legitimate rights and interests of the people, while ensuring compliance with legal regulations, the Standing Committee of the Quang Nam Provincial Party Committee has requested that by August 31, 2024, the investor must fulfill all financial obligations for the three projects as stipulated, providing a basis for authorized agencies to consider and resolve related matters according to legal provisions.

In the event that the investor fails to fulfill their financial obligations for the three projects by the specified deadline, the Standing Committee has requested that the Party Committee of the Provincial People’s Committee and the leaders of the Provincial People’s Committee propose solutions and suggest authorized agencies to handle the situation in accordance with legal regulations.

As previously reported by Tien Phong, Bach Dat An Joint Stock Company was assigned by the Quang Nam Provincial People’s Committee to implement 14 real estate projects in the province. From 2017 onwards, Bach Dat An Company (the investor) signed a contract with Hoang Nhat Nam Company to distribute approximately 1,000 land lots across three projects: the expanded 7B urban area, Hera Complex Riverside, and Bach Dat in Dien Ban Town, Quang Nam Province.

However, disputes and conflicts arose between the investor and the distributor, leading to legal proceedings. Court rulings were issued in 2019 and 2020, but challenges persisted in enforcing these rulings, including the investor’s reluctance to fulfill their related obligations.

After a prolonged period, the investor and distributor recently resumed negotiations to discuss how to utilize the funds collected by Hoang Nhat Nam Company from customers of the three projects to fulfill financial obligations and complete the projects, enabling the delivery of land and land use rights certificates to customers. They also negotiated land prices for the transferred land and fulfilled financial obligations for the Bach Dat urban area project.

As a result of these negotiations, the investor and distributor agreed to issue land use rights certificates to the people based on negotiated land prices for finished products. They also committed to diligently implementing the agreed-upon terms and conditions outlined in the meeting minutes.

Additionally, both parties pledged to proactively carry out their respective responsibilities, agreed upon the legal framework for fund transfers, and accepted full responsibility for their actions and obligations under the law.