Hoang Quan Real Estate assets to be seized by bank for debt recovery

A bank has announced plans to seize collateral related to credit facilities provided to Hoang Quan Real Estate Consulting Trading Service Joint Stock Company to recover outstanding debts.

The targeted assets include a villa and apartment residential project in Thanh My Loi Ward, as well as 26 land plots located across several projects in Ho Chi Minh City. These plots are situated in the Phu Loi Residential Area, the Saigonres project in District 8 (now Chanh Hung Ward), and the Phu Huu Residential Area in District 9 (now Long Truong Ward).

Bank representatives stated that the seizure follows a prolonged period of cooperation intended to support the company in restructuring its operations and meeting financial obligations. However, the company and relevant parties have reportedly failed to fulfill their commitments under the credit and security agreements. Despite previous notices requesting the voluntary handover of assets and legal documentation, the bank is proceeding with legal measures to seize the collateral to facilitate debt recovery.