Mai Linh Can Tho-Con Dao high-speed train seized due to debt of 1 billion VND

The Mai Linh Express high-speed train was seized to enforce a debt of 1 billion VND, affecting the Can Tho-Con Dao route and the company's operations.

Mai Linh Express train operates on the Can Tho - Con Dao route.

The Civil Judgment Enforcement Office of Cai Rang District has just issued a decision to forcibly seize the Mai Linh Express high-speed train of Mai Linh Tay Do Joint Stock Company to enforce the payment of a debt of 1 billion VND.

The decision was issued to enforce civil judgment No. 60 issued by the People's Court of Cai Rang District on May 30, 2024. The property subject to enforcement measures is the Mai Linh Express high-speed train, operating on the Can Tho - Con Dao route.

According to the lawsuit, the plaintiff, Mr. HNMT (residing in Co Do district, Can Tho city), lent Mai Linh Tay Do 1 billion VND with a term from August 14, 2023 to December 31, 2023. The loan was agreed to have an interest rate of 12% per year, but the company did not fulfill its debt repayment obligation as committed.

The dispute resolution process showed a lack of cooperation from the defendant. Mai Linh Tay Do did not participate in the conciliation sessions and was absent from the court without a valid reason. Up to now, the company has only paid 220 million VND, the remaining debt of nearly 800 million VND has not been resolved.

The Mai Linh Express ship is 40m long, more than 10m wide with a total main engine capacity of 3,220KW, built in 2019. This is a vehicle that is considered to have great value in the company's asset portfolio, once considered an important source of revenue for Mai Linh Tay Do.

The Mai Linh Express can accommodate 338 passengers, with ticket prices ranging from VND690,000 to VND1.3 million depending on the seat class. This waterway connects the Mekong Delta with the famous tourist destination of Con Dao, meeting the travel needs of tourists and locals.

However, the train's operations have not been continuous. Since its launch in 2021, Mai Linh Express has had to temporarily suspend operations several times and then resume operations in 2022 and 2024, before continuing to suspend operations as it is now.

Currently, Mai Linh Tay Do is prohibited from transferring or transferring the Mai Linh Express ship until the execution of the judgment is completed or there is another decision from the enforcement agency.

According to VNA

Source: https://baothanhhoa.vn/tau-cao-toc-mai-linh-can-tho-con-dao-bi-ke-bien-do-no-1-ty-dong-250010.htm