Hoa Binh Construction Company announced victory in the lawsuit against the investor of Cocobay Da Nang.

On January 16, Hoa Binh Construction Group Joint Stock Company (Hoa Binh Construction - stock code HBC) officially announced that Hoa Binh Construction had just received information that the Vietnam International Arbitration Center (VAIC) had passed a verdict, forcing Thanh Do Investment Development and Construction Joint Stock Company (Thanh Do Company) to pay Hoa Binh Construction a total of nearly 368 billion VND for 12 construction contracts for the project of The Empire Resort and Luxury Housing - commercial name is Cocobay Da Nang in Da Nang City.

The judgment takes effect from December 6, 2022. After 30 days from the effective date of the judgment, if Thanh Do Company fails to pay the above amount, it must pay interest for late payment at an interest rate of 11.5%/year to 14.6%/year according to the provisions of the signed contracts.

The Opera Residence project has just been topped out.

Currently, Hoa Binh Construction is in the "whirlpool" of the dispute over the position of Chairman of the Board of Directors between Mr. Le Viet Hai, Chairman of the Board of Directors and Mr. Nguyen Cong Phu, Member of the Board of Directors. According to the announcement from Mr. Hai, as a major shareholder, he is expected to convene an extraordinary General Meeting of Shareholders to dismiss 2 members of the Board of Directors, including Mr. Phu.

At the same time, Hoa Binh Construction also announced the topping out of The Opera Residence project - Metropole Thu Thiem Complex invested by Quoc Loc Phat Joint Stock Company (belonging to Son Kim Group).

The project is located in functional area No. 1, Thu Thiem New Urban Area, Thu Duc City, Ho Chi Minh City. The Opera Residence project - Metropole Thu Thiem Complex has a scale of 3 basements, 5 podium floors and 2 20-storey towers.

Source: https://nld.com.vn/kinh-te/cong-ty-xay-dung-hoa-binh-tuyen-bo-thang-kien-chu-dau-tu-cocobay-da-nang-20230116153521176.htm