Defendant Dinh La Thang affirmed that he directed PVN's divestment at Oceanbank.

On the afternoon of March 21, the lawyer of defendant Nguyen Xuan Thang (former member of PVN's Board of Directors) asked defendant Dinh La Thang about the third capital contribution to Oceanbank worth 100 billion VND.

I don't know if there is a resolution to contribute capital for the third time.

Responding to the lawyer's question, defendant Dinh La Thang, former Chairman of the Board of Directors of PVN, continued to affirm that he was on a business trip and did not know about Resolution 4266, which added 100 billion VND in the third capital contribution, nor did he vote, nor did he authorize Mr. Nguyen Xuan Thang to vote. The defendant only authorized Nguyen Xuan Thang to manage all activities of the Board of Directors. Specifically, the defendant did not know how the resolution was issued.

Regarding the defendant Nguyen Xuan Thang's statement that he reported back on the issuance of the third capital contribution resolution, Mr. Thang once again denied and told the court that he respected the defendant Thang's statement but affirmed that he was not informed about this and did not request a report because it was a working regulation.

“In March 2011, the defendant had a meeting, gave instructions and the Board of Directors agreed to have a resolution to divest PVN's capital at Oceanbank to comply with the ownership ratio according to current law. In March, the defendant directed the divestment, it is impossible that in May when Mr. Thang reported, the defendant agreed to transfer capital for the third time, which is completely unreasonable. At that time, the defendant was 51 years old, so he could not have lost his memory” - defendant Thang said and said, assuming that the contribution of 100 billion was wrong, he would accept responsibility as the authorized person and take responsibility on behalf of all other members when signing this resolution.

According to the former Chairman of the Board of Directors of PVN, with his personal perception, he believes that the third capital contribution of 100 billion to Oceanbank was not in accordance with the provisions of the law at that time, but over the past few days, at the trial as well as the defendants' testimonies, he also knows that this capital contribution has received the approval of superiors and state management agencies such as the State Bank, Department of Planning and Investment...

Representatives of the Ministry of Finance and the State Bank were present in court and were invited to answer some questions from the lawyers. Regarding the question of PVN's capital contribution to Oceanbank, or the acquisition of Oceanbank at zero dong, representatives of these agencies asked to answer later or were not within their authority.

In response to the lawyer's question: Does PVN propose compensation for damages caused by the defendants' intentional wrongdoing in this case? The PVN representative said they would wait for the jury's decision.

Mr. Ha Van Tham's bold plan

Earlier that morning, witness Ha Van Tham, former Chairman of the Board of Directors of Oceanbank, continued to request the panel of judges to consider the State Bank’s purchase of Oceanbank at a price of 0 VND. Accordingly, the audit reports concluding that Oceanbank had 14,000 billion VND in bad debt, which was assessed at 0, were not consistent with the bank’s reality.

“Assuming that the purchase price of 0 VND is correct, I would like to boldly propose to the People's Court to allow shareholders, including PVN, to receive back the parts that the State Bank and the auditors evaluated as 0 VND so that we can sell them to compensate for the loss,” Mr. Tham suggested.

The former Chairman of the Board of Directors of Oceanbank also said that it would only take a few days to complete this plan. If he had access to the documents and had a computer here, he would ask to present them and this document would be enough to convince the jury and those attending the trial, to convince them that he would be able to compensate shareholders, including PVN, for the excess amount of money lost.

“I guarantee that I will present to the jury those assets that are valued at zero. We will sell them and guarantee not only paying 800 billion to PVN and 3,200 billion to the remaining shareholders, but I think paying 1,600 billion to PVN is enough,” Mr. Tham said.