The Can Tho Civil Enforcement Agency announced on 17/9 that it will seize assets belonging to Mai Linh Tay Do Corporation (Ly Thai To Street, Hung Phu Ward). The asset to be seized is the 40-meter long, over 10-meter wide Mai Linh Express high-speed passenger ferry, with a total engine output of 3,220 KW, built in 2019. The ferry is currently docked at the X55 Factory (Logistics and Technical Department, Navy) in Can Tho.
Mai Linh Tay Do Corporation will be responsible for over 41 million VND in seizure costs. The seizure will proceed as scheduled even if the company is absent or fails to provide legal authorization.
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The Mai Linh Express high-speed passenger ferry. Photo: An Binh |
The Mai Linh Express high-speed passenger ferry. Photo: An Binh
The Mai Linh Express ferry operated the Can Tho - Con Dao (currently under Ho Chi Minh City) passenger route starting in 2021. However, its service has been intermittent, resuming operations in 2022 and 2024 before halting again.
According to the court order, a 43-year-old man sued Mai Linh Tay Do Corporation for breach of a loan agreement. He had lent the company one billion VND from 14/8/2023 to 31/12/2023, with a 12% annual interest rate. However, the company failed to repay the principal and interest as agreed.
After being sued, the company repaid 220 million VND but has not made any further payments. Despite multiple court summons, Mai Linh Tay Do failed to participate in mediation and was absent from the court hearing without explanation.
The enforcement agency issued seizure notices twice, on 12/6 and 21/8. However, Dong Ngoc Danh, Director of Mai Linh Tay Do Corporation, requested a postponement until 5/10 to allow the company to negotiate with an investor and repay the debt.
Danh stated that the company is no longer able to operate or maintain the ferry, and its inspection certificate has expired. He added that an investor is currently helping preserve the vessel and has agreed to repay the debt. Additionally, the Mai Linh Express received funding from the Can Tho City Development Investment Fund, which uses city capital. Any incident involving the ferry could impact over 31 billion VND of the fund's capital.
An Binh
