Sacombank stated it would seize collateral for a non-performing loan from Bamboo Airways after both the borrower and the guarantor failed to meet repayment obligations as requested.

According to the announcement, the collateral consists of land use rights totaling more than 86,300 m2. This includes 86,267 m2 of rural residential land and over 41 m2 of urban residential land. These assets are covered by 355 certificates of land use rights, housing ownership, and other assets attached to the land.

The land is located in Zone C - the residential villa area of the Dak Doa Complex, Dak Doa commune, Gia Lai province. The Gia Lai Department of Natural Resources and Environment issued the certificates on 9/9/2021.

FLC Group is the owner of these assets. The land use term extends until 27/7/2071, for private use, with the origin being state-allocated land with land use fees collected.

These assets were mortgaged under a contract signed on 27/10/2021, which was notarized at Notary Office No. 1 of Gia Lai province.

Sacombank had sent a notice requiring the borrower and guarantor to voluntarily hand over the assets before 27/3, but neither party complied. Consequently, the bank decided to seize the collateral to recover the debt. The seizure is scheduled to take place from 22/4 to 22/6 at the location of the collateral.

Since 2021, Sacombank and Bamboo Airways have maintained a comprehensive cooperation agreement. By September 2023, Sacombank, a major creditor of Bamboo Airways, indicated its intention to invest in the airline and sought to expedite procedures for regulatory approval.

Quynh Trang