Over 43,000 bondholders involved in the high-profile Van Thinh Phat case are expected to receive a total of nearly VND 8.7 trillion in the first round of court-mandated restitution by July 15, 2025—marking one of the largest civil enforcement operations ever undertaken in Ho Chi Minh City.
On June 17, the Ho Chi Minh City Civil Judgment Enforcement Department (CJCED) announced the execution of a court ruling related to the second phase of the trial involving Truong My Lan—former Chairwoman of Van Thinh Phat Group—and her accomplices.
A formal enforcement order was issued requiring Ms. Truong to repay over VND 30 trillion to victims and parties with vested interests, particularly those who had purchased corporate bonds issued by firms under the Van Thinh Phat conglomerate.
The list of affected parties, bond volumes, and restitution amounts is detailed in Verdict No. 504/2024/HSST dated October 17, 2024, issued by the Ho Chi Minh City People’s Court.
As of June 17, the total amount scheduled for disbursement in the first phase of repayment stands at VND 8.694 trillion. With over 43,000 beneficiaries—an unprecedented figure—the CJCED has developed a specialized digital system allowing for mass payouts using a single execution order based on registered account numbers.
To ensure accuracy and minimize errors, the department has mobilized its entire workforce to manually verify beneficiary identities and bank details. The target date for completing all payouts is July 15, 2025.
In parallel with fund disbursement, the CJCED is actively reviewing and verifying the legal status and current condition of seized assets listed in the verdict. The goal is to expedite asset liquidation under Vietnamese law to fulfill restitution obligations.
For bank accounts that have been frozen as part of the proceedings, formal requests have been submitted to financial institutions to transfer the available balances. Further asset and account verification efforts are ongoing to ensure complete execution of the court’s ruling.
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