Sacombank is offering for sale a debt of over VND 596 billion, with an initial price of VND 189 billion. This debt was incurred by Dia Oc Van Phat under a credit contract signed on November 23, 2012, and subsequent amendments made on November 20, 2013, with Sacombank – Hung Dao Branch.
As of April 27, 2021, the debt amounted to more than VND 596 billion, comprising of VND 188 billion in principal and nearly VND 408 billion in interest. The collateral for this debt is 40 million DTR shares of Dia Oc Do Thanh.
Despite the high debt value, the starting price for this auction is set at only VND 189 billion.
Sacombank has stated that the buyer will be responsible for all taxes and costs related to the purchase and sale of the debt, if any. It is the buyer’s responsibility to conduct due diligence on the legal aspects and all information related to the debt before participating in the auction.
Dia Oc Van Phat, established in August 2010 with a charter capital of VND 120 billion, is a well-known real estate distributor in Southern Vietnam. The company is led by Mr. Le Huu Ha, who serves as its General Director.
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