Specifically, Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) North Saigon branch has just issued a document requesting Tan Binh Import-Export Materials Company to hand over mortgaged assets that are apartments.
The document clearly states that Tan Binh Import-Export Materials Joint Stock Company has used collateral which is land use rights and assets attached to land at address No. 3, Truong Cong Dinh, Ward 14, District 1.
BIDV North Saigon branch said that in the working minutes of both sides dated April 29, although the bank has created conditions in time for customers to arrange debt repayment, Thanh Nien Company has not yet paid all overdue debts.
Harmona apartment complex was given an ultimatum by the bank to recover its collateral.
Accordingly, this bank requires Tan Binh Import-Export Materials Company and the Harmona apartment management board to fulfill the obligation to hand over the collateral as before there were no users or residents to the bank.
As noted by VnExpress, many residents living in this project were surprised to hear that the entire building had been mortgaged, and was even being warned to repossess assets to tighten debt.
Meanwhile, Mr. Thanh, an investor who owns an apartment for rent in Hamona, lamented: `If the project has legal problems like this, buying and selling transactions will be difficult to carry out, and leasing will not be convenient.`
VnExpress has repeatedly contacted Thanh Nien Company, which has been promoting itself as the investor of this project for many years, to clarify the case, but there have been no results.
The Harmona apartment project is located on Truong Cong Dinh street, Tan Binh, on a land area of 9,137m2, including 3 19-storey blocks, with about 600 units.
The project investor, Thanh Nien Joint Stock Company, committed to handing over the apartments in the first quarter of 2012. However, due to financial difficulties, it was not until the second and third quarters of 2013 that the enterprise handed over the first blocks.
