The Ho Chi Minh City Department of Civil Judgment Enforcement is currently executing a case involving Truong My Lan (Chairman of Van Thinh Phat Group) and her accomplices, as per the rulings of competent authorities. Lan is obliged to compensate a total amount of VND 30,081 billion to the victims and relevant parties who acquired the bonds through appendices (43,108 individuals). The bond codes are as follows: QT-2018.12.1, SET.H2025, ADC-2018.09, ADC-2019.01, ADC-2018.09.01, and SNW-2018.10.
The Department will not be enforcing judgments or making payments for bond codes that were not included in the court’s rulings.
Truong My Lan and her granddaughter, Truong Hue Van, during one of their court appearances. Photo: Tan Chau
So far, the Department has made the first payment of VND 7,464 billion, comprising VND 1,461 billion seized by the Ministry of Public Security’s Investigation Agency (C03) and VND 6,002 billion collected by the Ho Chi Minh City Department of Civil Judgment Enforcement.
On June 25 and July 15, a total of VND 7,250 billion was distributed to 41,441 bondholders, with each receiving a proportion of 24.81%. On July 17, the second payment of VND 696 billion was made to the same number of bondholders (with approved applications) at a rate of 2.4553%.
On August 15, the Department continued to disburse payments for the first and second rounds for additional bondholders who provided their account information or updated their details.
Following the first and second rounds of payments, the Department proceeded to liquidate assets, generating VND 376 billion. On August 20, the third round of payments was executed, distributing VND 1.25% of the remaining enforceable amount to 42,141 bondholders.
For the 967 bondholders who have not provided their account information, the Ho Chi Minh City Department of Civil Judgment Enforcement has deposited the enforceable amounts into savings accounts as per regulations.
In the third round of payments, the Department temporarily waived the enforcement fees upon receiving requests from bondholders. They have submitted a report and are awaiting a response from the competent authority regarding the waiver of enforcement fees for all bondholders. Once a decision is made, the Department will inform the bondholders accordingly.
At present, the Department is verifying, appraising, and assessing the assets specified in the judgment belonging to Truong My Lan and organizations or individuals with enforcement obligations towards her. Simultaneously, they are urging SCB Bank to transfer the frozen funds as per the appellate and first-instance judgments. Once the asset liquidation is completed and the funds are received from the bank, the Department will proceed with subsequent disbursements.
The Ho Chi Minh City Department of Civil Judgment Enforcement requests that the beneficiaries and relevant parties regularly check for updates on their official channels. They also advise against gathering in large groups to prevent misinformation or exploitation. The Department is committed to dedicating all its resources to ensure the swift and fair execution of the judgment, maximizing the rights and legal interests of the bondholders.
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