The land at 152 Tran Phu was confiscated, but Truong My Lan still asked to use it to remedy the consequences.

As planned, on November 15, the High-level People's Procuracy in Ho Chi Minh City will express its views on resolving the case and convicting the defendants in the first phase of the Van Thinh Phat appeal case and related units.

Previously, after the end of the interrogation, the representative of the People's Procuracy said that there were many details that needed to be clarified regarding the statements about overcoming the consequences of the case, so he requested the panel of judges to return to the interrogation of the defendant Truong My Lan to present.

In this case, the violations of defendant Truong My Lan and her accomplices are accused of causing damages of up to 677,000 billion VND. To remedy the consequences, defendant Truong My Lan pledged to repay the entire amount that the State Bank had lent to SCB to maintain operations and remedy the consequences of the case.

According to defendant Lan, in his assets there are 440 assets that have not been valued but are estimated to be able to earn about 100,000 billion VND if sold, while the book value of these assets is 620,000 billion VND.

Some typical assets include the 152 Tran Phu project (District 5) with completed infrastructure; the 2-4-6 Hai Ba Trung project, District 1 - to which investors have contributed more than VND3,000 billion; the Grand Central project on Nam Ky Khoi Nghia street and the One Central project (Ben Thanh Quadrangle area) worth VND14,000 billion.

However, among these assets, the land plot at 152 Tran Phu, once managed by the Vietnam National Tobacco Corporation (Vinataba), was determined by the Government Inspectorate to have many violations in the equitization and divestment process, leading to state land falling into private hands.

From there, this agency has recommended that the Prime Minister direct relevant agencies to recover this real estate and handle any issues arising during the land recovery process; if signs of crime are detected or the recovery has not been completed by December 31, 2023, the matter will be transferred to the Ministry of Public Security's investigation agency for investigation and handling according to regulations.

At the end of 2023, the Ho Chi Minh City People's Committee issued a decision to revoke and cancel the land use right certificate, stating that Vinataba's land transfer was a violation of the law under the 2013 Land Law. The Vina Alliance joint venture company, the unit established to manage the project, also had its investment license revoked by the Ho Chi Minh City Department of Planning and Investment.

This means that Vina Alliance's legal status no longer exists and the land plot at 152 Tran Phu is not subject to handover. Meanwhile, Vinataba asserts that it has completed its divestment from Vina Alliance, so it no longer has the right to manage this land plot and cannot carry out the handover.

Golden land 152 Tran Phu, District 5, HCMC. (Photo: Viet Dung)

Currently, Ho Chi Minh City authorities have not been able to reclaim this land and remedy the related consequences, but only have measures to prevent illegal transfers to avoid arising risks.

Meanwhile, according to the Government Inspectorate's report in early 2024 on the implementation of the post-inspection conclusion, Vinataba is continuing to review and examine the related responsibilities of the Board of Members, Chairman of the Board of Members, General Director, Vinataba's Board of Directors and related individuals.

Vinataba's governing body, the State Capital Management Committee, has not yet reported the results of the review of responsibilities and disciplinary action against groups and individuals who committed violations, according to the management authority of this unit.

Also at the trial, Ms. Lan stated that there are currently 1,121 assets being mortgaged at SCB Bank, which are capable of ensuring the settlement of the consequences of the case. However, according to Ms. Lan, of these, 681 assets have been valued significantly lower than their actual value by Hoang Quan Company, so she requested the court to review and re-evaluate them according to the market price at the time of execution of the judgment for offset. For example, Ms. Lan stated that the Mui Den Do project has an actual value much higher than the current valuation, the difference is up to tens of thousands of billions of VND.

In addition, the defendant also proposed to use 658 unsecured asset codes for any other loans to remedy the consequences for SCB. If the assets at SCB are not enough, the defendant is willing to use personal assets to support SCB in the restructuring process. Among these, there are two major projects, the Saigon Port project and the Amigo super project, which if developed on schedule can bring in no less than VND 200,000 billion.

Defendant Truong My Lan also stated that there was about 21,000 billion VND from organizations and individuals that had to be paid to the defendant (according to the verdict), along with more than 500 billion VND that had been paid before the appeal hearing, and 5,000 billion VND for charter capital increase but had not yet been granted a certificate. Therefore, the former Chairman of Van Thinh Phat hoped that the panel of judges would consider an appropriate sentence, so that she could have the opportunity to return.

Hoang Tho

Source: https://vtcnews.vn/khu-dat-152-tran-phu-bi-thu-hoi-truong-my-lan-van-xin-dung-de-khac-phuc-hau-qua-ar907193.html