Agribank has just announced the simultaneous sale of two personal debts belonging to Mr. TAT and Ms. VTT. Both owe thousands of gold taels to Agribank's Ho Chi Minh City branch.
The starting price for these two debts is 45.781 billion VND.
Regarding specific details of each debt, Agribank stated that Mr. TAT's debt at Agribank Ho Chi Minh City Branch arose from a credit agreement dated May 2, 2008.
The estimated value as of March 31, 2023 is: principal debt of VND 14,810,500,000; interest debt in gold of 977,764 SJC gold ounces; interest debt in VND: VND 7,760,063,318.
In addition, Mr. TAT also has a debt arising from a credit agreement signed between him and Agribank Ho Chi Minh City Branch on January 9, 2008.
The book value of the outstanding debt as of March 31, 2023, for this credit agreement includes: principal balance of VND 16,950,785,000; interest debt of 1,117.436 SJC gold ounces; and interest debt of VND 8,881,109,539.
The total debt owed by Mr. TAT under the two aforementioned credit agreements is VND 62,325,059,087. This includes: principal debt of VND 31,761,285,000; interest (converted to gold) of VND 13,922,601,231; and interest (in VND) of VND 16,641,172,856.
The bank notes that interest will continue to accrue from March 31, 2023, until Mr. TAT repays the entire principal loan amount at Agribank Ho Chi Minh City Branch.
The collateral for these debts includes:
Ownership rights to the house and land use rights at 158/9 Nguyen Cong Tru Street, Nguyen Thai Binh Ward, District 1, Ho Chi Minh City; ownership rights to the house and land use rights at 158/15 Nguyen Cong Tru Street, Nguyen Thai Binh Ward, District 1, Ho Chi Minh City;
Ownership rights to the house and land use rights at address 84 Tan Dien A Hamlet, Phu Huu Ward, District 9, Ho Chi Minh City;
The property is owned by the owner and has the right to use the land at house number 84, Tan Dien A Hamlet, Phu Huu Ward, District 9, Ho Chi Minh City. However, this property lacks the legal basis for debt recovery due to incomplete procedures for surveying and confirming boundaries and reaching compensation agreements.
The second debt being offered for sale by Agribank is the debt of Ms. VTT at Agribank Ho Chi Minh City Branch, dating back to February 2008.
The book value of the outstanding debt as of March 31, 2023, is estimated at VND 26,383,297,168. This includes a principal balance of VND 9,495,877,000; interest on gold (converted) of VND 9,221,153,535; and interest on VND 7,666,266,633.
Interest will continue to accrue from March 31, 2023, until Ms. VTT repays the entire principal loan amount at Agribank Ho Chi Minh City Branch.
Notably, Ms. VTT's debt is no longer secured by collateral. The real estate assets mortgaged for Mr. TAT's loan are all registered under the names of these two individuals.
The total value of the debt owed by the two individuals mentioned above amounts to approximately 90 billion VND; however, the bank only set a starting price of 45.781 billion VND.
Specifically, the starting bid price for Mr. TAT's debt is 32.165 billion VND. The starting bid price for Ms. VTT's debt is 13.616 billion VND.
Based on unofficial and unverified information, the debtor and the auction organizer assess the potential risks associated with the auctioned debt. These risks were not foreseen by the debtor and the auction organizer.
The buyer of the auctioned debt is responsible for receiving and confirming the information and assumes full responsibility for any risks that may arise after the successful auction of the debt.
Previously, in 2023, Agribank repeatedly offered for sale a debt of 2,149.11 SJC gold bars belonging to a female customer named DTN. The starting price for the debt in the first sale (July 2023) was 14.13 billion VND.
However, despite numerous attempts to sell the debt, no buyer was found. By January 2024, the starting price of the debt had been reduced to 10.8 billion VND.
The debt in gold was established under two credit agreements between Ms. DTN and Agribank's Ho Chi Minh City branch in 2004 and 2005. To date, the debt has been merged into Agribank in its entirety.
Gold prices today, April 6, 2024: Global prices surge, SJC gold falls from its peak of 82 million VND.
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