The Ho Chi Minh City Civil Judgment Enforcement Department (THADS HCMC) has completed the fourth round of payments to bondholders in the high-profile Van Thinh Phat case. As of September 26, nearly 30% of the court-ordered restitution amount has been paid out.

On September 26, THADS HCMC confirmed it had carried out the fourth disbursement in the case involving Truong My Lan and her accomplices. After three previous rounds of payments, the department continued to handle and liquidate assets, collecting an additional VND 299.97 billion (approximately USD 12.29 million). This amount was distributed on September 26 to 42,313 bondholders at a payout rate of 0.9971% of the total enforceable amount.

THADS HCMC noted that it has placed the funds for 795 bondholders into savings accounts, as they have not yet provided the necessary bank details to receive their payments.

As of September 26, 2025, the department has paid out 29.5152% of the total amount designated for enforcement.

In this fourth round, THADS HCMC temporarily suspended the collection of enforcement fees, following numerous requests from bondholders seeking fee exemptions. The department has reported the matter to higher authorities and is awaiting a decision regarding a possible fee waiver for all affected bondholders. Once a decision is made, THADS HCMC will inform the bondholders accordingly.

The department is currently verifying, surveying, and appraising properties associated with Truong My Lan and individuals or organizations obligated to enforce judgments on her behalf. It is also continuing to request the Saigon Commercial Bank (SCB) to transfer the funds that were previously frozen under both the first-instance and appellate verdicts. Once assets are processed and funds received, THADS HCMC will proceed with further disbursement rounds.

Previously, THADS HCMC carried out the first payment round totaling over VND 7.464 trillion (around USD 305.47 million). On June 25 and July 15, 2025, the department distributed VND 7.25 trillion (USD 296.54 million) to 41,441 bondholders, with each receiving 24.81% of their enforceable amount.

On July 17, 2025, the second round of payments was executed, amounting to VND 696 billion (USD 28.48 million) for the same 41,441 bondholders whose documentation had been approved, at a rate of 2.4553%.

On August 15, 2025, THADS HCMC continued disbursing payments from rounds 1 and 2 to bondholders who had submitted updated banking information or provided new account details.

On August 20, 2025, the department processed the third round of payments, distributing VND 376 billion (USD 15.38 million) to 42,141 bondholders, with each receiving 1.25% of their enforceable amount.

On September 24, 2025, a supplementary payment was made to parties who had not previously submitted account information, had transferred their enforcement rights and obligations, or whose accounts were closed or incorrect during prior payment rounds.

Thanh Phuong