Great News for Over 43,000 Creditors in the Truong My Lan Case

On May 21, the Ho Chi Minh City Department of Civil Judgment Enforcement (THADS) officially responded regarding the enforcement of the verdict in the case of Truong My Lan and her accomplices in phase 2, related to the issuance of fake bonds.

According to THADS Ho Chi Minh City, many individuals who are subject to enforcement as well as those with related rights and obligations have continuously submitted inquiries about the enforcement process for this verdict.

Expending over VND 8,600 billion in the first round

To prepare for the enforcement and payment to 43,125 concerned parties in the Truong My Lan case (phase 2), THADS Ho Chi Minh City is coordinating with the two-level People’s Court, C03 – Ministry of Public Security, and Tan Viet Securities Company to review and update personal information and accounts according to the appendix to the verdict.

Given the record number of concerned parties, the Department is developing software for notification and payment of enforcement to ensure that beneficiaries receive their money as soon as the verdict takes effect. At the same time, proactively handling seized and frozen assets to guarantee Truong My Lan’s enforcement obligations.

As soon as the appellate verdict is issued, the Department will proceed with the handling, giving priority to disbursement from the temporarily collected amount and from asset liquidation as prescribed. It is expected that in the first disbursement round of phase 2, the allocated amount will exceed VND 8,600 billion.

As of May 21, 2025, in phase 1 of the case, THADS Ho Chi Minh City is temporarily holding more than VND 6,800 billion. Additionally, the Department has issued a decision to deduct more than VND 946 billion from bank accounts. However, this amount has not yet been transferred to the Department’s account.

In phase 2, the total amount that the defendants, individuals, and organizations have paid to guarantee Truong My Lan’s enforcement obligations exceeds VND 493 billion. In addition, there is more than VND 388 billion that is currently frozen in banks and savings accounts.

Over 39,000 bondholders ready to receive refunds

According to THADS Ho Chi Minh City, as of now, the agency has received more than 39,000 submissions. The Department is actively verifying and approving information to facilitate the payment process.

To standardize and accurately cross-reference information before proceeding with the disbursement, THADS Ho Chi Minh City requests that those who have not yet submitted their applications do so promptly according to the instructions, including: Application for notification and receipt of enforcement payment by bank transfer (original, following the template posted on the THADS Ho Chi Minh City’s electronic portal); Citizen ID or passport (for individuals); Business registration or establishment and operation license (for organizations); Bank account information confirmation (certified copy).

Bondholders can submit their applications directly to THADS Ho Chi Minh City or send them to Tan Viet Securities Company for aggregation and subsequent transfer to the Department.

THADS Ho Chi Minh City also announces that the beneficiaries in the Truong My Lan and accomplice case may be exempt or reduced from fees as prescribed in Circular No. 216/2016/TT-BTC. Specifically, fee exemption applies to those who are war veterans, solitary, disabled, long-term ill, or have been verified as lacking the conditions for enforcement but now have assets for enforcement.

A fee reduction (ranging from 20% to 80%) is applicable if the beneficiary is from a poor household or if enforcement is carried out without coercion. Applicants need to submit a request along with supporting documents as guided.

Applications should be submitted to THADS Ho Chi Minh City or its authorized unit. The processing time is 5 working days from the date of receiving a valid application.