Agribank has just announced the simultaneous sale of two personal debts of Mr. TAT and Ms. VTT. Both have debts of thousands of taels of gold at Agribank Ho Chi Minh City Branch.
The starting price of these two debts is 45,781 billion VND.
Regarding specific information about each debt, Agribank said that Mr. TAT's debt at Agribank Ho Chi Minh City Branch arose from a credit contract dated May 2, 2008.
Provisional value as of March 31, 2023 is: principal debt of VND 14,810,500,000; gold interest debt of 977,764 SJC gold bars; VND interest debt: VND 7,760,063,318.
In addition, Mr. TAT also has debt arising from the credit contract signed between him and Agribank Ho Chi Minh City Branch on January 9, 2008.
The book value of the provisional debt as of March 31, 2023 of this credit contract includes: principal balance of VND 16,950,785,000; gold interest debt of 1,117,436 SJC gold bars; VND interest debt of VND 8,881,109,539.
The total value of Mr. TAT's debt under the two credit contracts mentioned above is 62,325,059,087 VND. Of which: principal balance is 31,761,285,000 VND; converted gold interest debt is 13,922,601,231 VND; VND interest debt is 16,641,172,856 VND.
The bank noted that interest will continue to accrue from March 31, 2023 until Mr. TAT has fully paid off the principal of the loan at Agribank Ho Chi Minh City Branch.
Assets securing the above debts include:
House ownership and land use rights at address 158/9 Nguyen Cong Tru, Nguyen Thai Binh ward, District 1, Ho Chi Minh City; house ownership and land use rights at address 158/15 Nguyen Cong Tru, Nguyen Thai Binh ward, District 1, Ho Chi Minh City;
House ownership and land use rights at address 84 Tan Dien A Hamlet, Phu Huu Ward, District 9, Ho Chi Minh City;
House ownership and land use rights at house number 84, Tan Dien A Hamlet, Phu Huu Ward, District 9, Ho Chi Minh City. However, this property is not legally sufficient to process debt collection because the boundary measurement and compensation agreement procedures have not been completed.
The second debt that Agribank put up for sale was Ms. VTT's debt at Agribank Ho Chi Minh City Branch from February 2008.
The book value of the provisional debt as of March 31, 2023 is VND 26,383,297,168. Of which, the principal balance is VND 9,495,877,000; converted gold interest debt is VND 9,221,153,535, VND interest debt is VND 7,666,266,633.
Interest will continue to accrue from March 31, 2023 until Ms. VTT has fully paid off the principal of the loan at Agribank Ho Chi Minh City Branch.
Notably, Ms. VTT’s debt no longer has any collateral. The real estate assets mortgaged for Mr. TAT’s loan mentioned above are all in the names of these two people.
The total debt value of the two individuals mentioned above is approximately 90 billion VND, however, the bank only gave a starting price of 45.781 billion VND.
Of which, the starting price for the auction of Mr. TAT's debt is 32.165 billion VND. The starting price for the auction of Ms. VTT's debt is 13.616 billion VND.
Using unofficial and unverified information sources, the debtor and the auction organization assess the possibility of potential risks related to the auction debt. These risks are not foreseen by the debtor and the auction organization.
The buyer of the auctioned debt is responsible for receiving information, confirming and taking responsibility for any risks that may occur (if any) after successfully auctioning the debt.
Previously, in 2023, Agribank had repeatedly put up for sale a debt of 2,149.11 SJC gold bars of a female customer named DTN. The starting price for the debt in the first sale (July 2023) was 14.13 billion VND.
However, after many times of selling this debt, there were still no buyers. By January 2024, the starting price of the debt was reduced to 10.8 billion VND.
The gold debt was signed under two credit contracts between Ms. DTN and Agribank Gold and Gemstone Company, Ho Chi Minh City Branch in 2004 and 2005. Up to now, the debt has been merged into Agribank.
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