BIDV to seize 23 land plots at Lang Sen project over debt

BIDV North Saigon Branch has announced plans to seize 23 land plots and associated assets within the Lang Sen Residential Area to recover overdue debts from Thao An Hoa Co., Ltd. The loan has been overdue since May 28, 2025.

The assets are located in the Lang Sen Residential Area, which spans over 50 hectares. While the project was previously associated with Duc Hoa, Long An, the location is now identified as My Hanh, Tay Ninh. Phuc Khang Sen Viet L.A. Investment Co., Ltd. acted as the guarantor for the debt.

Despite requests for voluntary handover in July 2026, the borrower and guarantor have not fulfilled their obligations. Consequently, the bank intends to proceed with the seizure starting October 20, 2026, in accordance with mortgage agreements and legal regulations.