Postponement of Mai Linh Tay Do Company's high-speed train due to related disputes

Regarding the information that the Mailinh Express high-speed train of Mai Linh Tay Do Company will be forcibly seized to enforce the judgment, the Civil Judgment Enforcement of Can Tho City has decided to postpone the compulsory seizure of this high-speed train after the Can Tho City Development Investment Fund (CADIF) filed a request to the court to resolve the dispute related to this property. The postponement decision was issued on September 19, just a few days before the enforcement date as previously announced.

Mai Linh Express train operates on the Can Tho - Con Dao route. Photo: VNA

The reason for the postponement of the execution of the judgment comes from the People's Court of Region 2 - Can Tho accepting the independent request of the Can Tho City Development Investment Fund. In the content of the request, this Fund requested the court to force Mai Linh Tay Do Joint Stock Company to pay the debt of nearly 30 billion VND according to the credit contract signed in 2019 and more than 1.4 billion VND in overdue interest. The Can Tho Development Investment Fund also requested that in case the company fails to pay the debt, the mortgaged property, the Mailinh Express ship, be auctioned to recover the debt.

Notably, Can Tho City Development Investment Fund believes that Mai Linh Tay Do Joint Stock Company has signs of dissipating mortgaged assets through signing a deposit contract to buy and sell Mailinh Express ships with another company without fulfilling its debt payment obligations. Therefore, the Fund requests the Court to declare this deposit contract invalid.

Previously, the Civil Judgment Enforcement Agency of Can Tho City issued a notice that it would organize the compulsory seizure of the Mailinh Express high-speed ship at 8:00 a.m. on September 23, 2025, at the anchorage at Factory X55. This enforcement is to enforce the legally effective judgment of the People's Court of Cai Rang District (old), forcing Mai Linh Tay Do Joint Stock Company to pay Mr. HNMT (residing in Co Do Commune, Can Tho City) the total principal and interest of more than VND 892 million. The incident originated from the fact that this company borrowed VND 1 billion from Mr. T. in 2023 but did not repay the principal and interest as committed.

Speaking to a reporter from Vietnam News Agency on September 24, Mr. HNMT, the person whose sentence was executed, said he had sent a complaint to the Investigation Agency of the Supreme People's Procuracy and relevant authorities.

Mr. T. said that the judgment No. 60/2024/DS-ST dated May 30, 2024 of the People's Court of Cai Rang District (which has come into legal effect) ordered Mai Linh Tay Do Company to pay him a total amount of more than VND 892 million and interest, and the execution procedures were carried out in accordance with the law. Mr. T. argued that the case the Court is handling is a dispute over a deposit contract, not a dispute over ownership of the seized property, so there is not enough basis to postpone the execution of the judgment in accordance with the law.

Source: https://baotintuc.vn/kinh-te/hoan-cuong-che-tau-cao-toc-cua-cong-ty-mai-linh-tay-do-do-co-tranh-chap-lien-quan-20250924190733094.htm