Businesses will be seized by banks with collateral assets such as valuable factories, villas, apartments, and cars.
BIDV has just announced the selection of a collateral appraisal unit for the debt formed in 2012 of Soc Son Steel Rolling Joint Stock Company, headquartered in Lam Thao commune, Luong Tai district, Bac Ninh province.
Soc Son Steel Rolling Joint Stock Company is an enterprise specializing in the production of steel billets, established in 2002 by Mr. Nguyen Trong Tuyen as Chairman of the Board of Directors and legal representative. It is known that the company’s principal debt is worth 321,461 billion VND borrowed at BIDV Bac Ninh branch. However, up to now the company has not been able to repay the debt. Interest debt alone has reached 445,887 billion VND and 98,758 USD.
To get a loan of more than 300 billion VND from BIDV, the collateral for this debt includes: The entire system of factories, office buildings, construction materials on 119,700m2 of land leased with annual payments with the lease term up to year 2053; the company’s billet production line and 1 company’s forklift.
In addition to the above 3 properties, there are also 5 real estate properties including 3-storey villa in Dich Vong new urban area, Cau Giay, Hanoi of Mr. Nguyen Trong Tuyen. Land area 306.56m2; 4 apartments from 68m2-140m2 in the residential and commercial area of Nang Huong, Van Quan, Ha Dong, Hanoi by Mr. Phan Ngoc Hieu and Ms. Nguyen Thi Thanh Mai.
Before that, another steel giant also had a debt for sale by BIDV, a debt of VND 440 billion of Viet Nhat Steel Joint Stock Company. The collateral for the loan of Viet Nhat Steel at BIDV is 2 real estate in Hai Phong, including 159 Bach Dang and Km9 rolling mill, Highway 5, Quan Toan, Hong Bang.In addition, the collateral for this loan is machinery and equipment for production at Km9 rolling mill, National Highway 5, and a series of transport vehicles and construction motorcycles (Mercedes E240, Toyota Camry GLI, Toyota Hiace, Kato KR22H right-hand drive wheel crane, Kobelco RK 250 wheeled crane).
Viet Nhat Steel was established in 1998. The main business lines are iron ore mining, iron and iron steel production, and service activities to support mining and other ores.