Noisy billion dollar divorces among Vietnamese businessmen

The divorce that led to a dispute over the trillion-dollar assets of Mr. Dang Le Nguyen Vu and his wife, Chairman of Trung Nguyen Group, is not the first incident in the Vietnamese business community.

The couple of the owner of Trung Nguyen Group

Mr. Dang Le Nguyen Vu and Ms. Le Hoang Diep Thao are waiting for the court to resolve their divorce. However, since the end of last year, the two sides have been in dispute.controlling rights in some enterprises under Trung Nguyen Group.

Ms. Thao said that while waiting for the court to resolve the divorce, Mr. Vu arbitrarily dismissed her from her positions as Chairman of the Board of Directors and General Director of Trung Nguyen Instant Coffee Company.However, Ms. Thao said that Mr. Vu's actions were "not legally guaranteed" because the company's Board of Directors has 3 members. Meanwhile, only Mr. Vu attended the meetings to dismiss the above position and made the decision himself.

At the same time, he also completed the procedures to change the legal representative of Trung Nguyen Instant Coffee Joint Stock Company to his name, instead of Ms. Thao as before. However, gMost recently, Ms. Thao submitted a petition to the management agency requesting the revocation of the above-mentioned changed business registration certificate and was approved by the Department of Planning and Investment of Binh Duong province. Currently, she is the legal representative of this company and 2 other units out of 8 companies belonging to Trung Nguyen Group.

The dispute over control of the business between Mr. Dang Le Nguyen Vu and his wife has recently attracted public attention.

Wife and daughter of Bao Son Group owner

The divorce between Mr. Bui Duc Minh and Ms. Nguyen Thanh Thuy - Vice President of Bao Son Group, also the daughter of the owner of Bao Son Group, occurred in 2011 with disputed assets amounting to about 500 million USD (10,000 billion VND).

Bao Son Group is famous for the first luxury private hotel in Hanoi as well as large projects, most notably Bao Son Paradise. In addition to Bao Son Group, this asset is also distributed in the form of shares in 7 other companies owned by Bao Son. According to Mr. Minh, the above trillion-dollar assets were established during the marriage, but most of the shares are under the name of shareholder Nguyen Thanh Thuy. Therefore, he demanded to divide the additional shares under Ms. Thuy's name at Bao Son Group Joint Stock Company and 7 other companies.

However, the case had not been resolved when in early 2012, Hanoi police suddenly arrested Mr. Bui Duc Minh to investigate the act of defamation due to using hundreds of "junk" SIM cards to send slanderous messages and defame a number of leaders of departments and branches in Hanoi.

The couple of the owner of Five Star International Group

In December 2012, District 3 Court, Ho Chi Minh City opened the first instance trial of the divorce case between Mr. Tran Van Muoi (Chairman of the Board of Directors and General Director of Five Star International Group) and his wife, Ms. Pham Thi Huong Giang (Deputy Director of Dai Tay Duong Appraisal Joint Stock Company).

Ms. Giang said that she and her husband have assets worth about 2,000 billion VND, including 10 villas in Ho Chi Minh City, Vung Tau, Hai Phong and many other real estates. In addition, the assets include a Camry car, investment capital in Five Star International Group, Hon Dao Viet International Joint Stock Company, Sam My Urban Investment Joint Stock Company, and Vam Co Dong Agricultural Materials Joint Stock Company. Ms. Giang requested to be divided 50% of the above assets.

Meanwhile, Mr. Muoi said that most of these assets were borrowed, bought and sold for profit, and because of the fall in housing prices, he had a debt of 109 billion VND and 6,804 taels of gold. Mr. Muoi suggested that the assets would be prioritized for debt repayment, and the rest would be divided. However, Ms. Giang said that she did not know and had no responsibility to pay.

Tycoon Le An and the 30-year lawsuit to reclaim his house after divorce

The lawsuit over the house between tycoon Le An and his ex-wife, Ms. Le Ngoc Lan, lasted for nearly 30 years.Mr. An said that in 1965, he and Ms. Lan got married and lived together at house number 408 Cach Mang Thang 8 (Tan Binh district, Ho Chi Minh City) under his name. In 1980, he escaped the country and was arrested in Ben Tre. After 4 years in prison, he was allowed to return home and his wife filed for divorce. The court agreed and transferred all assets, including the house, to Ms. Lan.

Not accepting the court's decision, in 1987, Mr. An filed a complaint asking the higher court to reconsider the division of assets. The dispute lasted until 2013 when the management agency re-examined and decided that the tycoon could receive his house back.

Mr. Le An is the Chairman of the unit that owns Chi Linh Tourist Area and Le Hoang Company in Vung Tau. Four years ago, this 74-year-old tycoon caused a stir in public opinion when he married a 20-year-old wife.

Tycoon Nguyen Duc An and supermodel Ngoc Thuy

The property dispute between Vietnamese-American businessman Nguyen Duc An and supermodel Ngoc Thuy has been going on since 2011. Since getting married,Mr. An let Ms. Thuy stand in his name on many assets he invested in Vietnam.

When divorcing, the assets that Mr. An declared to "reclaim" his ex-wife included 13 plots of land and villas in Phan Thiet city, Binh Thuan province; 9 luxury apartments in District 1, 3 plots of land in Vung Tau city. In addition, this tycoon also owns a villa in Binh Thanh district, bank savings, money to buy shares of the Bank New Venture project, 31% of shares in Sao Mai Company in Vung Tau city, a Vespa and 7 cars.The lawsuit over this property has not yet ended.

According to VNE