Minh Phap Partnership Auction Company has just announced the third auction of a batch of surplus household appliances including: induction cookers, microwave ovens, ovens, refrigerators, air conditioners, dishwashers, washing machines, dryers, range hoods, water heaters, pan sets, pot sets, etc.

This is collateral property owned by PVCombank after being seized from its customer, Ba Sao International Co., Ltd., to recover bad debt.

According to the inventory list published by the bank, there are 230 items with brands such as De Dietrich, Fagor, Brandt, etc. These goods are currently stored at Thạnh Xuân 52 Street, Thạnh Xuân Ward, District 12, Ho Chi Minh City.

Most of these goods are unused, but some equipment has been used or is worn out due to prolonged storage. Bidders must pledge not to file any complaints or lawsuits regarding the quantity or quality of the assets if they purchase them.

The starting price for the third auction of the above-mentioned lot of assets is VND 6.831 billion. The starting price excludes taxes, fees, and charges (if any).

Nearly five years ago, on December 30, 2019, PVCombank seized the collateral assets of Ba Sao International Co., Ltd., which included all inventory of household appliances such as induction cookers, microwave ovens, ovens, refrigerators, etc., from various brands, stored in a warehouse at 36 TL57-KP2, KP1, Thanh Loc Ward, District 12, Ho Chi Minh City.

The total number of items in the inventory was 349. At the time of seizure, the bank stated that all of these items were inventory that had depreciated over time.

The debt of Ba Sao International Co., Ltd. at PVCombank originated from a credit agreement signed in October 2018. Prior to the bank's seizure of assets, the total outstanding debt was VND 17.753 billion, of which the principal debt was VND 15.745 billion.

TriStar International Co., Ltd. was established in 2003, with a business license issued by the Department of Planning and Investment of Ho Chi Minh City. The company's address is 18, Street 3, Cityland Residential Area, Ward 5, Go Vap District, Ho Chi Minh City.

This company operates in the home appliance business and is the official distributor of high-end kitchen brands such as De Dietrich and Brandt from France, and Fagor from Spain.