BIDV deeply reduces FLC yacht price to recover debt

The specialized website on asset auctions has just announced the auction of an inland waterway vehicle named FLC Albatross, registration number HN - 2014 of FLC Group Corporation .

The unit with the auctioned assets is the Joint Stock Commercial Bank for Investment and Development of Vietnam - Quy Nhon Branch (BIDV Quy Nhon).

This is the sixth auction for this yacht as the previous five times there were no participants registering their documents.   At this auction, the yacht was bought by the bank .   (equivalent to more than   1 million USD).

Organizations and individuals wishing to participate in the auction will have to purchase documents and deposit approximately   2.58 billion VND, each step minimum price 100 million VND.

The auction will be held at 2:00 p.m. on January 19, 2024 at the headquarters of Minh Phap Auction Company, 151 Tran Huy Lieu, Ward 8, Phu Nhuan District, Ho Chi Minh City.

FLC Albatross Cruise.

This is a Galeon 660 Fly yacht built in Poland in 2017, with a design length of 16.62 m; maximum length of 21.95 m; design width of 4.88 m;

Maximum width 5.25m; height 3.15m; draft 1.15m (freeboard 2,000m; FRP hull material). The yacht has four bedrooms, evenly distributed on the first floor and the hold.  

In the first auction in October 2022, this yacht had a starting price of 35.7 billion VND. Up to now, after 5 auctions, FLC's assets have decreased by nearly 10 billion VND.  

Many assets related to former FLC Chairman Trinh Van Quyet were put up for sale by the bank to recover debts after he was prosecuted and arrested on charges of "manipulation" and "concealment of securities information" .

Previously, Orient Commercial Joint Stock Bank ( OCB ) announced the auction of 84 villas in the FLC Eco-tourism Urban Area in Thanh Hoa with a starting price of nearly 550 billion VND .

Source: https://www.nguoiduatin.vn/bidv-giam-sau-gia-du-thuyen-cua-flc-de-thu-hoi-no-a645000.html