Elisa restaurant ship owner in deep debt: How is the debt auctioned?

According to the announcement of Agribank Saigon branch, all secured debts of Hao Huy Trading Company Limited at this bank branch will be auctioned to recover the debt on April 18.

The book value of the debt in the provisional credit contracts as of February 28, 2025 is nearly VND 134 billion. Of which, the principal balance is nearly VND 60 billion and the interest debt is more than VND 74.1 billion. These contracts have been in place since 2011 and are loans 100% secured by assets.

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  Owner of 5-star restaurant Elisa in Ho Chi Minh City has debt seized by bank

Notably, one of the collateral assets for these loans is the 5-star Elisa Floating Restaurant on the Saigon River. The Elisa is introduced as the only and largest 5-star floating restaurant in Ho Chi Minh City, the largest restaurant ship in Vietnam with the capacity to receive 1,000 guests at a time.

The Elisa has an inland waterway vehicle registration certificate issued by the management agency on October 24, 2012, and was built in 2007.

Unlike other restaurant ships, Elisa does not move but is anchored at the dock.

Regarding the auction of Hao Huy Company's debt, according to the announcement of Agribank Saigon branch, auction participants will register to view the auctioned assets and related documents, purchase auction documents and deposit more than 26.7 billion VND (20% of the starting price).

The HCM City Property Auction Service Center will coordinate with the bank to organize for auction participants to view the auctioned property or property samples, documents on ownership, property usage rights and related documents.

Individual and institutional investors who wish to purchase auctioned assets can contact us from April 9 to April 11. The starting price of the debt is nearly VND 134 billion, excluding taxes, fees, charges, VAT, etc.

According to the reporter of Nguoi Lao Dong Newspaper, the Elisa ship is currently owned by Hao Huy Trading Company Limited and is still being used as a restaurant serving domestic and international guests. The Elisa ship is anchored at Saigon Port and is a popular fireworks viewing spot in Ho Chi Minh City every holiday and Tet. The Elisa ship also provides event organization and performance services... This is also a famous check-in place for Ho Chi Minh City residents and tourists when coming to Bach Dang Wharf (District 1).

Hao Huy Company was established in 2005 with a charter capital of 60 billion VND. The company is the investor of the Elisa ship, which operates restaurants and mobile catering services.

Source: https://nld.com.vn/chu-tau-nha-hang-elisa-no-dam-khoan-no-duoc-dau-gia-the-nao-196250327101155775.htm