Why is Chu Lai soda factory still not allowed to operate?

Previously, Ms. Vu Thi Hong Bich - General Director of Tan Tien Production and Trading Company Limited (Tan Tien Company) sent Document No. 1007/2024 to the People's Committee of Quang Nam province; Ministry of Justice; Director General of the General Department of Civil Judgment Enforcement; Department of Civil Judgment Enforcement of Quang Nam province requesting to immediately carry out the seizure of assets of Chu Lai Soda Factory.

In the above document, Tan Tien Company said that this enterprise is a shareholder holding 50% of shares at Chu Lai Soda Production Joint Stock Company (Chu Lai Soda Company), and is also an investor and partner in operating, producing and trading Chu Lai Soda Production Factory.

Accordingly, Chu Lai Soda Company was licensed to borrow money from the bank to build the factory since 2010, but could not operate due to insufficient environmental conditions, technical failures, lack of equipment and machinery, and lack of capital to maintain production activities.

“In February 2018, Chu Lai Soda Factory was not operating, Chu Lai Soda Company had no source to repay the debt, causing a loss of loan capital, so the bank sued Chu Lai Soda Company to recover the debt of more than VND 2,200 billion. After that, the parties agreed in the Decision to recognize the agreement of the parties, No. 01 dated February 9, 2018 of the People's Court of Quang Nam Province (hereinafter referred to as the Decision). After the decision was issued, the bank and Chu Lai Soda Company invited Tan Tien Company to participate in continuing to build and operate the factory” - excerpt from document No. 1007/2024.

Since April 2018, Tan Tien Company has invested more than 1,000 billion VND in the factory to repair and upgrade equipment and build more projects. In August 2021, when the factory passed the test operation, Chu Lai Soda Company signed a business cooperation contract with Tan Tien Company to continue investing in the factory.

In June 2022, the parties continued to agree on the basis of voluntary enforcement of the judgment and issued a "Minutes of Enforcement Agreement". According to this agreement, Tan Tien Company has the right to operate and manage the factory for 21 years, and at the same time is fully handed over equipment and production materials and is obliged to continue to carry out the necessary legal procedures as required by state management agencies.

“However, when the factory came into operation, despite the high and responsible support of the Provincial People's Committee and departments and branches of Quang Nam province, we were still unable to implement the above-mentioned "Minutes of Agreement on Enforcement of Judgment", because the Quang Nam Provincial Civil Judgment Enforcement Department had previously seized all goods as raw materials for production under the August 2015 Credit Contract, worth over VND 231.8 billion in March 2022" - stated document No. 1007/2024.

Therefore, Tan Tien Company requests the People's Committee of Quang Nam province and relevant agencies to direct the Enforcement Officer and the Civil Judgment Enforcement Department of Quang Nam province to seize all assets of Chu Lai Soda Factory to ensure the rights and interests of the company.

Document No. 5344/UBND-NCKS, dated July 18, 2024 of the People's Committee of Quang Nam province stated: "After consideration, the Chairman of the Provincial People's Committee forwarded the above petition of Tan Tien Company to the Provincial Civil Judgment Enforcement Department for inspection and settlement in accordance with the provisions of law; report the results to the Chairman of the Provincial People's Committee for monitoring".

Source: https://daidoanket.vn/vi-sao-nha-may-san-xuat-so-da-chu-lai-van-chua-duoc-phep-hoat-dong-10286179.html