The case of 1,000 red books debt in Quang Nam: Strictly handle violations of investors

The directive document of the Quang Nam provincial government signed by Vice Chairman Nguyen Hong Quang stated that in the past, Bach Dat An Joint Stock Company lacked determination, did not seriously implement the instructions and conclusions of the Provincial People's Committee, and did not coordinate closely with the Departments, branches and Dien Ban Town People's Committee in the process of resolving existing problems and difficulties related to the projects implemented by the company in the province; especially the projects of Bach Dat Urban Area, Urban Area No. 7B expansion and Hera Complex Riverside Urban Area.

"At meetings to resolve problems chaired by the Provincial People's Committee and in written requests from Bach Dat An Joint Stock Company, the company always affirmed that it has full financial capacity and is determined to continue implementing the projects; however, in reality, the company's current financial capacity is not guaranteed," the document of the Quang Nam Provincial People's Committee stated.

According to the People's Committee of Quang Nam province, Bach Dat An Joint Stock Company has not yet fulfilled its financial obligations to the State for the land allocated by the Provincial People's Committee in the first phase to implement the Bach Dat Urban Area project.

Vụ nợ 1.000 sổ đỏ ở Quảng Nam: Xử nghiêm các sai phạm của chủ đầu tư - 1 — Hera Complex Riverside urban area invested by Bach Dat An Joint Stock Company is still unfinished (Photo: Cong Binh).

The company has not yet transferred the full funding to the Dien Ban Town Land Fund Development Center according to the plans approved by the town since August 2022 to organize compensation payments and site clearance for organizations, households and individuals affected by the projects of Urban Area No. 7B expansion and Hera Complex Riverside Urban Area.

In order to promptly resolve the real estate dispute and ensure the legitimate rights and interests of people buying land in the projects, the People's Committee of Quang Nam province assigned the provincial police to investigate and strictly handle violations in the implementation of projects in the province by Bach Dat An Joint Stock Company.

In addition, the People's Committee of Quang Nam province also requested Bach Dat An Joint Stock Company to urgently transfer all compensation and site clearance funds according to the plans approved by the People's Committee of Dien Ban town to coordinate with the Dien Ban town Land Fund Development Center to organize compensation payments, support, and site clearance for related organizations, households, and individuals.

The deadline for completing the transfer of money to the Dien Ban Town Land Fund Development Center is before March 10.

The company is required to fulfill its financial obligations to the state for the area allocated by the Provincial People's Committee to implement the Bach Dat Urban Area project. The province will only consider extending the project implementation period when the company completes the above requirements.

The Department of Planning and Investment of Quang Nam is assigned to preside over and coordinate with the People's Committee of Dien Ban town to monitor the transfer of money to pay compensation, support, and site clearance of Bach Dat An Joint Stock Company.

"In case Bach Dat An Joint Stock Company does not transfer sufficient funds as required, the Department of Planning and Investment will assess the company's financial capacity, report to the Provincial People's Committee to consider not extending the project implementation period, revoke the project and direct the settlement of any issues arising after the project is revoked," the document of the Quang Nam Provincial People's Committee stated.

Quang Nam province also assigned Dien Ban town to urgently review and evaluate the current status and site clearance capability for the area that has not been compensated and cleared for the Bach Dat Urban Area project (about 2.6 hectares); report to relevant departments and branches to advise the province to direct the settlement in the direction of retaining, renovating and completing the project.

Regarding the dispute case of real estate projects in Dien Ban town, Quang Nam province, Bach Dat An Joint Stock Company signed a contract with the distribution unit, Hoang Nhat Nam Investment Joint Stock Company, since 2017, with nearly 800 customers and more than 1,000 land lots have been transacted, but the investor has been slow and has not yet handed over the red books to the people.

The People's Committee of Quang Nam province has issued many documents directing and requesting the resolution of existing problems and difficulties related to projects invested by Bach Dat An Joint Stock Company, requesting the company to speed up the site clearance progress of the projects; requesting the transfer of funds to pay the people.

However, Bach Dat An still did not implement it, affecting the rights of people when purchasing land in the project.

Regarding the dispute over real estate projects invested by Bach Dat An Joint Stock Company, the Government Inspectorate has sent a document to the Chairman of Quang Nam province, requesting competent authorities to consider and direct the investor to promptly develop a specific plan, construct infrastructure, and fulfill financial obligations to the state to grant land use right certificates to households according to signed contracts and concluded in legally effective judgments.

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