Appeal related to the amount of 2,700 billion VND and Dai Ninh project

According to the appeal, the two above units requested the High People's Court in Hanoi to review the first instance judgment in the direction of not confiscating the amount of VND 2,700 billion to the State budget, not recommending the recovery of the Dai Ninh project but handing over the project to the relevant parties, including Novaland Group/Thien Vuong Company, to continue implementing the project.

Saigon Dai Ninh Lavender Tourism Investment Company Limited (Lavender Company of defendant Nguyen Cao Tri) also filed an appeal, requesting the Court of Appeal to consider declaring that the above 2,700 billion VND should not be confiscated and transferred to the State budget.

Saigon Dai Ninh Tourism Investment Joint Stock Company appealed, requesting the Court of Appeal not to recommend revoking the Dai Ninh project and not to revoke the business registration certificates for the 8th and subsequent changes (if any) of this company.

Previously, defendant Nguyen Nho Dinh (former Inspector of Department II, Government Inspectorate) also filed an appeal asking for a reduction in his sentence.

On the afternoon of January 20, at the trial of the case "Giving bribes, Receiving bribes, Abusing positions and powers while performing official duties" that occurred in Lam Dong province, in addition to sentencing the defendants, the Trial Panel also made a decision on other related issues.

Accordingly, the Trial Panel recommends that the Government Inspectorate consider canceling Inspection Conclusion No. 1033/2021. At the same time, it recommends that the People's Committee of Lam Dong province consider canceling the 8th and subsequent changes in the business registration certificate (if any) of Saigon Dai Ninh Company; carry out necessary procedures so that the entire land area assigned to Saigon Dai Ninh Company to implement the Dai Ninh Eco-tourism and Resort Commercial Urban Area project is terminated in accordance with Inspection Conclusion No. 929/2020 and the provisions of law.

Regarding the VND 2,700 billion benefit of defendant Nguyen Cao Tri, the Trial Panel determined that after purchasing the Dai Ninh project, Mr. Tri used the legal entity Lavender Company to sell the project to Novaland Group. The two parties agreed to transfer 100% of the charter capital at Saigon Dai Ninh Company to Thien Vuong Company (under Novaland Group) with a total transaction value of VND 27,600 billion in 5 payment installments.

By October 7, 2022, Thien Vuong Company had only paid 2,700 billion VND and did not continue to pay according to the agreement. Of this amount, Mr. Tri used nearly 1,700 billion VND to pay Ms. Phan Thi Hoa (former owner of Dai Ninh project) to have Ms. Hoa confirm that he owned 58% of Saigon Dai Ninh Company's shares. The remaining 1,000 billion VND was used by Mr. Tri.

The court determined that Ms. Phan Thi Hoa, Novaland Group and the parties involved in the project transfer transaction knew that the project was being proposed for revocation by the Government Inspectorate and that Mr. Tri would have to carry out procedures to adjust the inspection conclusion from "reclaiming land, terminating project activities" to "extending and delaying project progress", however, the parties still signed the share transfer agreement which did not ensure a legal basis.

The amount of VND 2,700 billion that Mr. Tri received from Novaland Group is the illegal profit, obtained from a series of criminal acts of Mr. Tri and his accomplices, so this illegal profit should be confiscated and transferred to the state budget. The dispute between Mr. Tri and Thien Vuong Company (if any) will be resolved according to civil procedure.