The Civil Judgment Execution Department (CJED) of Can Tho City has issued a notice of forced execution against Mai Linh Tay Do Joint Stock Company (located in Hung Phu Ward, Can Tho City). The notice mandates the seizure and auction of assets to recover outstanding debts.
The asset to be seized is the high-speed vessel Mai Linh Express, measuring 40 meters in length and over 10 meters in width, with a total engine power of 3,220 KW, built in 2019. The forced execution is scheduled for the morning of September 23, 2025, at the vessel’s mooring location in Binh Thuy Ward, Can Tho.
The Mai Linh Express high-speed vessel previously operated on the Can Tho – Con Dao route.
The CJED of Can Tho City will proceed with the forced execution even if representatives from Mai Linh Tay Do Company are absent.
Previously, Mr. H.N.M.T. (from Co Do District, Can Tho) filed a lawsuit against Mai Linh Tay Do Company for breach of a loan agreement. In August 2023, Mr. T. lent the company 1 billion VND with a repayment term until December 2023 at an interest rate of 12% per annum. However, the company failed to repay the principal and interest as agreed. After the lawsuit, the company has only repaid 200 million VND to Mr. T.
On May 21, 2025, the CJED of Cai Rang District issued a decision to seize and dispose of Mai Linh Tay Do Company’s assets. The company was prohibited from transferring or selling the vessel until the execution was completed.
On June 12, the CJED of Cai Rang District announced the forced seizure of the vessel for execution on July 9. However, by the deadline, the vessel had been moved to another location.
Mai Linh Tay Do Company later explained that the vessel’s registration had expired on June 25, 2025, necessitating its relocation for inspection and mooring at the X55 Factory in Binh Thuy Ward.
On August 21, the CJED of Can Tho City issued another notice of forced execution for the vessel on September 5, at its mooring location at the X55 Factory.
On September 3, Mai Linh Tay Do Company submitted a request to the CJED of Can Tho City to postpone the execution by one month to negotiate a debt repayment plan with Mr. T. However, this request was denied.
The Mai Linh Express previously operated the Can Tho – Con Dao passenger route from 2021. However, the vessel frequently suspended operations and has been inactive since 2024.
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