Ms. Truong My Lan proposed to sell Daewoo Hotel in Hanoi to remedy the consequences.

On the morning of March 15, the trial of Ms. Truong My Lan and her accomplices continued with the clarification of civil issues in the case.

The court clarified issues related to Ms. Truong My Lan's assets .

Ms. Truong My Lan stated that her family's company, Bong Sen Company, holds 93.6% of the shares in the Daewoo Hanoi Hotel. Ms. Lan proposed selling the hotel to pay for the damages caused by the case.

Defendant Truong My Lan at the trial this morning. Photo: D.N.

The court also announced that the Capital Place building at 29 Lieu Giai Street, Ba Dinh District, Hanoi, which Ms. Lan claimed her daughter, Chu Duyet Phan, was selling for $1 billion to mitigate the consequences , is actually mortgaged to secure a $230 million loan from four foreign banks. Currently, someone has offered $360 million, so the defendant's claim of selling it for $1 billion is incorrect.

Confirming with the court, Ms. Truong My Lan affirmed that after selling the Capital Place building, she would use the proceeds to repay bank loans and brokerage fees, and the remaining amount would be used to mitigate the consequences. Regarding her shares in a foreign insurance company, Ms. Truong My Lan stated that the insurance company belongs to a Hong Kong billionaire whose name she declined to name, and that she purchased shares worth approximately 920 billion VND.

Currently, the market value of these shares is up to 5 trillion VND, and Ms. Lan agrees that the proceeds from the sale will be used to mitigate the consequences.

Prior to Ms. Lan's presentation, the panel of judges announced that the defendant's daughter had information that these shares could only be sold for approximately 40 million USD, equivalent to 920 billion VND at the time of purchase. Regarding the vaccine manufacturing plant belonging to Van Thinh Phat Group, the panel of judges announced that the defendant's daughter had suggested transferring it to another partner to obtain funds to mitigate the consequences.

Ms. Truong My Lan agreed with her daughter's opinion. She said that she had invested 315 billion VND in this factory.

Regarding the villa at 112 Vo Van Tan Street (Ho Chi Minh City), Ms. Truong My Lan stated that her mother had purchased it a long time ago for 700 billion VND, and she requested that the house not be seized.

"This is a Vietnamese historical site, and my family has been repairing it for five years. I hope the court will lift the seizure order so we can continue the repairs, otherwise it will be damaged," Ms. Truong My Lan earnestly requested.

The court also announced that Thanh Hieu Company (part of Phuong Trang Group) was the investor of three projects. Due to owing Ms. Truong My Lan 450 billion VND, Phuong Trang Group subsequently transferred Thanh Hieu Company to Ms. Lan for 3,450 billion VND.

However, Ms. Lan has only paid 1.25 trillion VND, even though they have transferred all legal documents and company seals to her for management.

Therefore, Phuong Trang proposed returning the 1.250 billion VND, and Ms. Lan would return the project to them.

When asked to clarify issues related to Thanh Hieu Company, a representative of Phuong Trang Group unexpectedly asserted that Phuong Trang transferred Thanh Hieu Company to three other individuals, not to Ms. Truong My Lan and Van Thinh Phat.

According to a representative of Phuong Trang Group, Ms. Lan only introduced these three people to Phuong Trang.

"Because Thanh Hieu Company is already operating, Phuong Trang has transferred the company seal and legal entity to these three individuals for operation. During the transfer, Thanh Hieu only transferred the project in District 7 to them; the other two projects did not have the necessary legal documents and therefore were not handed over," a representative from Phuong Trang explained.

According to Phuong Trang Group, Thanh Hieu Company and three of its projects have been frozen.

"Thanh Hieu Company and its three projects have no connection to Van Thinh Phat; we request that the court lift the freeze on these projects so they can continue to be implemented," the representative of Phuong Trang Group requested.

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