Enforcement of civil judgments (CPs) Can Tho City has issued a Decision to postpone the enforcement of the judgment against Mai Linh Tay Do Joint Stock Company after three days of issuing a notice of enforcement of the Mai Linh Express high-speed train (Decision effective from September 19, 2025).
Previously, on September 16, 2025, the Can Tho City Police issued Notice No. 163 on the compulsory seizure and sale of assets of Mai Linh Tay Do Joint Stock Company; address in Hung Phu Ward, Cai Rang District, Can Tho City (now Hung Phu Ward, Can Tho City) to execute the judgment.
The seized assets are the Mai Linh Express cruise ship, 40m long, more than 10m wide, with a total capacity of 3,220KW, built in 2019. The enforcement is expected to be carried out at 8:00 a.m. on September 23, 2025 at the location of the ship anchorage - Factory X55, Binh Thuy Ward, Can Tho City.
According to Judgment No. 60/2024/DS-ST, Mr. M.T (Co Do Commune, Can Tho City) sued Mai Linh Tay Do Company for violating a loan contract. Specifically, Mr. M.T lent the company 1 billion VND from August 14, 2023 to December 31, 2023 at an interest rate of 12%/year. However, the company only paid 200 million VND, the rest was not paid on time.
The court ordered Mai Linh Tay Do Company to pay more than VND 892 million, including the remaining principal and interest. The decision to enforce the judgment was then implemented by the Can Tho City People's Procuracy in accordance with the correct order.
However, on September 19, 2025, the Can Tho City Real Estate suddenly issued a decision to postpone the execution of the judgment, partly related to the obligation to repay the debt to Mr. M.T.
The main basis cited is the "Independence Request" of the Can Tho City Development Investment Fund, sent to the People's Court of Region 2 - Can Tho City on September 16 - coinciding with the date the enforcement notice was issued.
In the petition, the Development Investment Fund proposed that the court force Mai Linh Tay Do Company to pay the principal debt of nearly 30 billion VND, arising from a loan contract signed in April 2019, along with overdue interest of more than 1.4 billion VND. The fund also requires the permanent distribution of mortgaged assets, which are Mai Linh Express high-speed ships, if the company fails to fulfill its payment obligations.
Notably, according to the DTPT Fund, Mai Linh Tay Do Company has signed a deposit contract to sell the ship to another company, although this asset is being mortgaged at the Fund to secure the above loan. The fund said that this behavior showed signs of dispersing assets and proposed that the court declare the deposit contract invalid.
Regarding the incident, on September 24, Mr. M.T said that he had sent a complaint to many authorities, including: Investigation Agency of the Supreme People's Procuracy, the Internal Affairs Committee of the Can Tho City Party Committee, the Can Tho City People's Procuracy, the Chairman of the Can Tho City People's Committee and the Head of the Can Tho City THADS Sub-Department.
Mr. M.T affirmed that the civil judgment has come into legal effect and the judgment enforcement process has been implemented in accordance with the law. Therefore, the temporary postponement of property enforcement is a serious violation of his legitimate rights and interests.
I understand that the People's Court of Region 2 - Can Tho is only resolving the deposit contract dispute between Chan Kha Company and Mai Linh Tay Do Company. Can Tho City Investment Fund is only a person with related rights, requiring independence in credit contracts. There is no dispute over ownership of the Mai Linh Express ship. The delay in enforcement because it is considered a contested property is a waste of the concept, Mr. M.T emphasized.
Mr. M.T also said that the decision to postpone enforcement showed signs of violating regulations in judicial activities, and at the same time requested the authorities to investigate and clarify.
