Minh Phap Joint Stock Auction Company has just announced the third auction of a lot of household appliance inventory including: induction cookers, microwave ovens, ovens, refrigerators, air conditioners, dishwashers, washing machines, dryers, deodorizers, water heaters, pan sets, pot sets,...

This is a secured asset owned by PVCombank after being seized from the customer, Ba Sao International Company Limited, to recover bad debt.

According to the list of goods announced by the bank, there are 230 items with brands such as De Dietrich, Fagor, Brandt,... These goods are being stored at Thanh Xuan 52 Street, Thanh Xuan Ward, District 12, HCMC.

Most of these goods are unused, but some of the equipment has been used or worn out due to long storage. Auction participants must commit not to complain or initiate lawsuits related to the quantity and quality of the assets in case of purchasing the auctioned assets.

The starting price for the third auction for the above property lot is 6,831 billion VND. The starting price does not include taxes, fees and charges (if any).

Nearly 5 years ago, on December 30, 2019, PVCombank seized the collateral assets of Ba Sao International Company Limited, including all inventory of household appliances including induction cookers, microwave ovens, ovens, refrigerators, etc. of many brands, stored in the warehouse at 36 TL57-KP2 Street, KP1, Thanh Loc Ward, District 12, Ho Chi Minh City.

The total number of goods in the list was 349 items. At the time of seizure, the bank said that all of these goods were inventory that had been depleted over time.

The debt of Ba Sao International Company Limited at PVCombank was formed from a credit contract signed in October 2018. Before the bank seized the assets, the total outstanding debt was VND 17,753 billion, of which the principal debt was VND 15,745 billion.

TriStar International Company Limited was established in 2003, licensed by the Department of Planning and Investment of Ho Chi Minh City. The company is located at No. 18, Street No. 3, Cityland Residential Area, Ward 5, Go Vap District, Ho Chi Minh City.

This company operates in the household appliances business, and is the official distributor of high-end kitchen brands such as De Dietrich, Brandt from France and Fagor from Spain.