On November 23rd, the People’s Court of District 1, Ho Chi Minh City, confirmed that it is handling several cases of “lease contract disputes” between management units, management boards of apartment buildings in Ho Chi Minh City as plaintiffs and Goldsun Focus Media Joint Stock Company as the defendant.
It is known that the exploitation of advertising spaces in apartment buildings, mainly in elevators and lobbies, has long been a lucrative market for media and advertising contractors. However, after signing contracts and implementing advertising campaigns, some contractors have delayed payment.
 Advertising in elevators and lobbies is considered highly effective, so many apartment buildings maximize these spaces to generate revenue for the benefit of their residents. Photo: T.A |
This situation has put the management boards and operators of apartment buildings in a tricky position. The delayed payments have caused issues in using the revenue for common purposes such as maintenance and repairs, affecting the image of the apartment management and operation units.
Goldsun Focus Media, which currently has advertising contracts in numerous apartment buildings in Ho Chi Minh City, has been facing civil lawsuits due to its delayed payments during the contract implementation period.
Specifically, My House Real Estate Management Services Joint Stock Company (abbreviated as My House) filed a lawsuit against Goldsun Focus Media at the District 1 Court to claim nearly VND 1 billion. The court has accepted this case.
My House is currently operating multiple apartment buildings in Ho Chi Minh City, including a contract with Goldsun Focus Media for advertising spaces in 10 apartment buildings in Thu Duc City, Tan Phu District, and Binh Chanh District.
However, since mid-2022, Goldsun Focus Media has been delaying payment of rental fees and violating payment obligations in many projects. Despite repeated reminders from My House, the delayed payments continued until mid-September 2023, when Goldsun Focus Media agreed to pay the confirmed debt and requested an extension until December 31, 2023.
As Goldsun Focus Media has still not made the payment, My House was forced to file a lawsuit to claim the debt of nearly VND 1 billion.
 Diamond Riverside Apartment Building. Photo: T.A |
In another case, the management board of Diamond Riverside apartment building (Vo Van Kiet Street, District 8) also sued Goldsun Focus Media for nearly VND 800 million in rental arrears. The District 1 Court has accepted the case of “lease contract dispute.”
The contract was signed for a period of 3 years (starting from August 2022) with a value of over VND 1.7 billion. However, during the implementation, Goldsun Focus Media only made payments until the end of 2022 and then stopped.
In March 2024, the management board of Diamond Riverside apartment building had to remove and store 69 advertising equipment of Goldsun Focus Media and proceeded to sue the partner.
It is known that many apartment management boards and operators in Ho Chi Minh City are in the process of taking legal action against Goldsun Focus Media at the District 1 Court to claim difficult-to-collect debts. The District 1 Court will successively hear these cases in the coming time.
Dam De
