HCMC – The HCMC Civil Judgment Enforcement Department will begin the first round of payments totaling over VND8.694 trillion to nearly 36,000 bondholders of Van Thinh Phat Group, with disbursement scheduled before July 15.
The department on June 17 issued a judgment enforcement order against Truong My Lan, former chairwoman of Van Thinh Phat Holdings Group Corporation.
Under the order, Lan is required to repay the full VND30 trillion to bondholders and other individuals or organizations with related rights and obligations stemming from the transfer of bonds issued by Van Thinh Phat.
The enforcement order was issued to carry out the second-phase appellate ruling by the High People’s Court in HCMC concerning the fraudulent appropriation of more than VND30 trillion from bondholders.
As the case involves a large number of individuals and organizations with related rights and obligations, the total number of parties subject to enforcement reaches around 43,108.
Earlier, Truong My Lan had voluntarily submitted a request for judgment enforcement to fulfill her obligation to compensate the victims and other affected parties, in accordance with the court’s ruling.
The HCMC Civil Judgment Enforcement Department said it will disburse over VND8.694 trillion in the first round of payments to nearly 36,000 bondholders who purchased Van Thinh Phat bonds, with payments to be made before July 15.
Given the large sum and the high number of parties involved, the department has developed software enabling payments to be processed with a single order. All personnel have also been mobilized to review and verify information to ensure accuracy and transparency.
For frozen accounts, the HCMC Civil Judgment Enforcement Department has issued official requests to banks to transfer the related funds. It is also continuing to verify and collect information on other assets and accounts to ensure full enforcement of the court’s ruling.
