On the morning of November 4, Apax English Joint Stock Company (Apax Leaders) announced a new tuition refund schedule to parents and students at its centers. The document was signed and sealed by Mr. Nguyen Ngoc Thuy (Shark Thuy), Chairman of the Board of Directors and General Director of Apax Leaders, today.
According to Apax Leaders, for parents who are behind in payment according to the previously signed minutes with the company in April, there will now be 3 new milestones to remember. First, by the end of this year (December 31), Apax Leaders will pay 5% of the remaining amount to all parents. By April 28, 2024, the company will pay another 5% of the total outstanding amount.
Apax Leaders Phan Xich Long facility is currently the only center licensed to operate by the Department of Education and Training of Ho Chi Minh City.
Finally, from July 30, 2024, Apax Leaders promised to pay 5% of the remaining amount to all parents every month until the end, but did not specify a fixed payment date. "The payment schedule is made no later than the 30th of each month," the document stated.
Thus, it is likely that by the end of December 2025, parents will receive 100% of the tuition fees from Apax Leaders. This is nearly 2 years later than Apax Leaders' previous promise, when the company said it would refund the final tuition fee on April 20, 2024.
Previously, in mid-October 2023, Apax Leaders also sent a letter of apology and explained the reason for the late tuition refund. This move took place after dozens of Apax Leaders parents gathered at Phan Xich Long Center (Phu Nhuan District) to demand money but to no avail. Specifically, according to the minutes signed with parents in April, Apax Leaders leaders divided parents into 2 groups to proceed with tuition refunds.
Leaders of Egroup and Apax Leaders answer questions from investors in an online meeting. From left: Mr. Nguyen Anh Tuan, CEO of Apax Leaders; Mr. Nguyen Ngoc Thuy, Chairman of the Board of Directors of Egroup; Ms. Nguyen Doan Kim Son, Head of Egroup's restructuring advisory board
Group 1 includes cases that have confirmed tuition balance, have a refund plan, and are overdue according to previous commitments signed with Apax Leaders representatives. For this group, the company promises to refund tuition in 3 installments, from June 9 to August 20 via bank accounts, respectively with 20% in the first installment and 40% in the next 2 installments. Parents who only need to be refunded less than 5 million in tuition will have it all paid in the first installment.
Group 2 is the remaining parents, including confirmed, with or without a roadmap, and unconfirmed. These cases are divided into 5 payment installments, each time 20% is transferred to a bank account. Of which, there are 3 installments in 2023 on October 9, November 20, and December 20, and 2 installments in 2024 on March 20 and April 20. This is also the largest group of parents.
However, up to now, many parents said they have not received money (for group 2), or have not received enough money from Apax Leaders (for group 1) because this company has continuously missed deadlines.
The controversy between Apax Leaders and parents in Ho Chi Minh City began in November 2022. Many parents accused the centers of not ensuring quality, closing without permission, and Apax Leaders repeatedly broke their promise to refund tuition fees and then cut off contact. It was not until early April that the company officially finalized a payment schedule with parents, but the tuition fee issue is still lingering to this day.
The Office of the Ministry of Public Security's Investigation Police Agency in Ho Chi Minh City and the Economic Police Department, Ho Chi Minh City Police have also received hundreds of complaints against Apax Leaders from parents. On the service information page of the Ho Chi Minh City Department of Education and Training, currently only Phan Xich Long and Him Lam (District 6) are licensed to operate, while 39/41 other centers are suspended, of which one has been dissolved.
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