Bank sells mortgage debt of 12-storey hotel in Da Nang

Agribank AMC has just announced the selection of an organization to auction the debt of Wisland Vietnam Company Limited (Wisland Vietnam) according to the credit contract signed on July 28, 2022 between Wisland Vietnam and Agribank Vinh Phuc Branch.

The book value of the debt as of July 24, 2024 is more than 52.45 billion VND. Of which, the principal balance is nearly 44.92 billion VND; the interest balance is more than 7.53 billion VND.

Wisland Vietnam's loan is secured by a series of real estate properties in Da Nang city, including: 3 land use rights at plots 104, 105, 106, map sheet 56, area 81m2, address: lot 35-B2.10, resettlement area east of Factory 38 and Factory 387, My An ward, Ngu Hanh Son district, Da Nang city, under the use of Mr. Nguyen Dinh Nam.

Notably, the fourth secured asset is the ownership of a 12-storey hotel, with a construction area of ​​194.4 square meters and a floor area of ​​more than 2,699 square meters, located on the three plots of land mentioned above.

This hotel is owned by Anh Ngoc Tourism Service Company Limited, a business whose legal representative is Mr. Nguyen Dinh Nam.

According to research, this is a 4-star hotel located on Do Bi Street, My An Ward, Ngu Hanh Son District, Da Nang City. The hotel has an outdoor swimming pool and is only a 5-minute walk from My Khe Beach.

The starting price of the debt is VND 52,452 billion, equivalent to the value of the debt (including principal and interest).

The above starting price does not include taxes, fees, charges and value added tax in case the auctioned debt is subject to value added tax according to the provisions of law.

The debt is auctioned on an as-is basis (including debt, legal status and potential risks) and on an as-is basis. The auction is expected to be conducted by direct voting at the auction/direct verbal bidding at the auction/indirect voting/online.

Auction participants are required to deposit 5.245 billion VND, equivalent to 10% of the starting price. Bidding step is 20 million VND/payment.

Agribank is preparing to auction off a debt secured by a series of luxury apartments in Nha Trang. The bank is also selling a debt worth hundreds of billions secured by 18 properties in Vinh Phuc.

Source: https://vietnamnet.vn/ngan-hang-rao-ban-khoan-no-the-chap-boi-khach-san-12-tang-o-da-nang-2316097.html