Opening bankruptcy proceedings with Rang Dong Holding enterprise

The People's Court of Ho Chi Minh City has decided to open bankruptcy proceedings against Rang Dong Holding - a plastics company with 65 years of operation.

Rang Dong Holding is a company with a long history of 65 years of operation, but now faces the possibility of bankruptcy - Photo: RDP

Rang Dong Holding Joint Stock Company (RDP) has just announced that it has received a decision to open bankruptcy proceedings from the Ho Chi Minh City People's Court. The above decision was made by the court after considering a request from Rang Dong Films Joint Stock Company - a subsidiary of RDP.

The panel of judges in charge of conducting the bankruptcy proceedings with RDP includes Ms. Hoang Thi Bich Thao - the panel leader, Ms. Phung Thi Nhu Mai and Ms. Mai Thi Thanh Tu as two members. Within 30 days, creditors must send debt collection notices to the administrator/asset management and liquidation enterprise as designated by the court.

It specifically states the total debt RDP must pay, interest, and compensation according to the contract (if any). Attached to the debt claim are documents and evidence proving those debts.

At the end of January, RDP received a notice from the Ho Chi Minh City People's Court regarding the acceptance of the petition to open bankruptcy proceedings from Rang Dong Films on the grounds that RDP was insolvent.

The court then asked RDP to explain the reasons, declare assets, list of creditors and debtors.

RDP's situation was almost paralyzed when leaders and employees resigned en masse. Because the company had been slow to publish mandatory reports, its financial and business situation had not been updated.

When reminded by the Ho Chi Minh City Stock Exchange, the representative of this company explained that the reason was because the company lacked human resources, especially after the accountants all quit their jobs.

Last June, RDP held its annual congress but it was unable to hold it twice due to low attendance and the continued absence of the leadership.

Rang Dong Holding was founded in the 1960s and was once a famous symbol. Mr. Ho Duc Lam was the chairman of the board of directors of this enterprise. But at the beginning of this year, Mr. Lam and many other leaders simultaneously resigned.

In his resignation letter, Mr. Lam said that due to personal reasons, he could no longer hold the position. It is known that Mr. Lam is the younger brother of former Deputy Minister of Industry and Trade Ho Kim Thoa (who is wanted).

BINH KHANH

Source: https://tuoitre.vn/mo-thu-tuc-pha-san-voi-doanh-nghiep-rang-dong-holding-20250814133734026.htm