The Hanoi People's Court is currently deliberating for a long time and will issue a verdict against 15 defendants in the case that occurred at Tan Hoang Minh Hotel Service Trading Co., Ltd. (Tan Hoang Minh Group for short). In addition to the criminal liability of defendant Do Anh Dung, Chairman of the Board of Directors of Tan Hoang Minh Group, and his accomplices, an issue that many people are concerned about is how the rights of investors will be resolved. any?
HRETURN TO EACH OTHER WHAT YOU HAVE RECEIVED
At the debate, the representative of the Hanoi People's Procuracy (Procuracy) stated that the issuance of 9 lots of bonds and then selling them to investors of Tan Hoang Minh Group was against the law, so it must be withdrawn and destroyed. cancel. Therefore, the purchase contract between the investor and Tan Hoang Minh Group is invalid and needs to be resolved according to the regulations on invalid transactions.
Currently, the prosecution agency is temporarily holding more than 8.600 billion VND, including: nearly 3.000 billion VND recovered during the investigation process and more than 5.600 billion VND voluntarily paid by defendant Dung and his family. This amount is enough to overcome all consequences of the case. Pursuant to Clause 2, Article 47 and Clause 1, Article 48 of the Penal Code (on returning appropriated property to the owner), the representative of the Procuracy proposed compensation for the victims.
The defendants in the case related to Tan Hoang Minh Group
Lawyer (Lawyer) Nguyen Ngoc Hung, Head of the Connection Law Office, Hanoi Lawyers' Association, cited regulations in Article 30 of the Criminal Procedure Code: the resolution of civil issues in criminal cases is carried out. accompanied by the resolution of criminal cases; In cases where a criminal case must resolve the issue of compensation or reimbursement without conditions to prove it and does not affect the resolution of the criminal case, the civil issue can be separated and resolved according to the law. civil proceedings.
Comparing with the Tan Hoang Minh case, the defendants' crimes have now been clarified, the number of victims and their damages are also quite clear, so it is likely that when the verdict is issued, the council will consider it. The trial will decide the compensation liability of the defendants. However, there is another possibility, although less likely, because among the thousands of victims who have many different viewpoints (some only need to pay the principal, others also claim the interest incurred), the court will reserve The right to sue the victim in another civil case.
Sharing the same opinion, Attorney Nguyen Thi Kim Vinh (Ho Chi Minh City Bar Association), former judge of the Supreme People's Court, said that the bond purchase contract between investors and Tan Hoang Minh Group was intended to "cover up" the chain. illegal acts committed by the defendants. Up to now, the prosecution has proven that the defendants also admitted to fraudulent appropriation of property, so even in this criminal case, the court can order the defendants to compensate the amount of money they received. He spent money to buy lots of bonds that were created improperly.
Returning to the Procuracy's proposal to resolve bond trading contracts according to regulations on invalid transactions, if the court accepts this point of view, what will happen?
Lawyer Nguyen Ngoc Hung said that Clause 2, Article 131 of the Civil Code stipulates: when a civil transaction is invalid, the parties restore the original state and return to each other what they have received; In case it cannot be returned in kind, the monetary value shall be returned. Thus, if the court determines that the bond transaction between the investor and Tan Hoang Minh is invalid, the defendants will have to repay the amount (principal) that the investors (identified as victims) paid. spend to buy bonds. Because the bond lots were created illegally, they will naturally be canceled.
Also because of "repaying each other what they have received", investors will not be able to request Tan Hoang Minh to pay bond interest according to the signed contract, because the contract is invalid. Instead, they can request compensation for late payment interest (according to bank interest rates) for the prosecution agency to evaluate and consider.
NDO HA INVESTORS HAVE TO RETURN INTEREST?
Case records show that from June 6.2021, companies under Tan Hoang Minh Group began issuing individual batches of corporate bonds. In April 4.2022, detecting signs of crime, the Police Investigation Agency of the Ministry of Public Security decided to prosecute the case, prosecute the accused, and temporarily detain Chairman of the Board of Directors of Tan Hoang Minh Group Do Anh Dung and his accomplices. At the same time, the State Securities Commission issued a document canceling 9 bond offerings related to Tan Hoang Minh.
From the time of bond issuance until the crime was discovered, a number of investors were paid interest by Tan Hoang Minh according to the contract. Others have not yet reached the payment deadline. Even if they just bought bonds the day before, the next day the group's leader was arrested, so "they have not received any money". Also at the trial, defendant Do Anh Dung also promised to pay interest on contracts that were due up to the time before he was detained.
The question that many people are interested in: if the bond purchase contract is determined to be invalid, will the investors who were paid interest under the contract have to repay Tan Hoang Minh?
Lawyer Nguyen Ngoc Hung cited the provisions in Clause 2, Article 131 of the Civil Code on resolving invalid civil transactions, saying that the parties will have to comply with the principle of "returning to each other what they have received". In particular, the defendants at Tan Hoang Minh Group will have to compensate the amount of more than 8.600 billion VND appropriated from investors. Any investors who have received it back under bond purchase contracts must return it to investors. this corporation.
"In case the court determines that the defendants are guilty and must pay compensation as stated, the amount of interest the victim has received will be deducted from the defendants' compensation obligation," Lawyer Hung said.
On the contrary, Attorney Nguyen Thi Kim Vinh said that investors will not have to deduct the interest they have received. Because, before the crime was discovered, the bond purchase contract between the investor and Tan Hoang Minh Group was not considered illegal, the two parties still performed their obligations to each other as normal. . This means that investors will enjoy that interest, and the defendants must compensate the entire principal amount that the victims spent to buy bonds. Of course, investors who have not received interest after the time the crime was discovered will not have the right to request interest payment, because the transaction contract is illegal.
The answer to the above issue will be decided by the jury in the verdict announced on the afternoon of March 27.3.
