Built in France in 2018, the yacht is currently moored at Tam Son Swan Bay marina in Dai Phuoc commune, Dong Nai province. This asset, belonging to Truong My Lan, Chairwoman of Van Thinh Phat, was seized in late 2023.
The Ho Chi Minh City civil enforcement agency first auctioned The Reverie Saigon yacht on 5/1, but it received no bids. The starting price was therefore reduced by 6%, from VND 52 billion to over VND 49 billion, for the second auction scheduled for next month.
Participants are required to make a bank transfer deposit of 20% of the starting price, nearly VND 10 billion, into the account of the Ho Chi Minh City Asset Auction Service Center.
In addition to the yacht, the civil enforcement agency also reduced the starting prices for two boats belonging to Truong My Lan, from over VND 5 billion to VND 4,8 billion.
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The Reverie Saigon yacht. *Photo: Yacht promotional material* |
During the investigation into the Van Thinh Phat case, 1,237 properties and numerous assets directly linked to Lan were seized. At the first-phase appeal in late 2024, Lan sought to reclaim many assets, including The Reverie Saigon yacht, which she stated was used to serve guests of the hotel with the same name.
She requested the court consider returning properties at 24 Le Loi (formerly District one) and 21 Tran Cao Van (formerly District three), stating these were purchased by her mother for her paternal grandchildren. She also asked to retain the old villa at 110-112 Vo Van Tan, which her mother bought for her maternal granddaughter, Chu Duyet Phan. This old villa was seized while her daughter was renovating it.
Regarding the building at 19-25 Nguyen Hue (District one), leased to SCB bank as its headquarters, Lan stated that the land was originally her great-grandfather's rice warehouse, which her mother repurchased as a memento for her granddaughter. The rental income from this building was used to renovate the old villa on Vo Van Tan street. Lan requested the court lift the seizure and return the property to her daughter.
Phuong Dong
