After a Bloomberg postings "A business built SHB conditions", Joint Stock Commercial Bank Sai Gon - Ha Noi (SHB) has formally written about this incident sent to press agencies.
Keep your money, "the parent company", not of "subsidiary"
According to the documents, SBH know about "Building Corporation Urban Song Hong, a member of the Corporation reflect the Red River to the news agencies - the media blockade SHB money improperly affect the company's operations. "
In this regard, SHB said on 4/4/2011, the Song Hong Joint Stock company has signed a letter of 435/TCT-TCKT loan guarantee under which this unit guarantees for Company Steel in the Red River at SHB loans totaling Hanoi Branch 100 billion limit.
According to this letter of guarantee, "the Corporation Red River completely responsible to the law for financial obligations related to the loan guarantee obligations of the Steel Corporation and Red River within the use of guarantees and commitments ".
If the maturity of debt (principal, interest and fees if any) that the Red River Steel Corporation insolvency or fulfill the obligations it has committed to SHB Shares Corporation Red River shall pay the amount due or to immediately implement the commitments it has obligations upon receipt of written notice of SHB Hanoi branch and records, related documents prove violation of The Red River Steel Corporation.
After receiving a letter of guarantee, SHB Hanoi branch procedures conducted for the Red River Steel Corporation 100 billion loan. However, SHB, on overdue loans from 11/2011, the Corporation and the Red River Steel inability to pay both principal and interest.
On the day 28.03.2012, 12.19.2012, 04.02.2013, Hanoi branch SHB had sent dispatches Corporation Red River requested the implementation of obligations under the guarantee. Besides SHB Hanoi branch has more meeting to require the Corporation to the Red River of the obligation to repay debts to the Red River Steel Corporation. However, SHB, said the Corporation of the Red River "always avoided shall guarantee obligations."
Under these circumstances, dated 05.04.2013, Hanoi branch SHB has made over 22,794 detention billion amount in the account of the Joint Stock Corporation opened at SHB Red River units required to perform guarantee obligations.
However, according to the complaint Corporation Urban Construction Red River, made the SHB custody on 22,794 billion amount is illegal, because that is the amount that the investor (the Project Management Unit Bac Ninh construction) contractor as payment for completed work volume in Hospital project in Bac Ninh.
In this regard, SHB that economic contract signed on 02.22.2010 between the Project Management Committee of Bac Ninh building partnerships with corporations and Song Hong Joint Stock Corporation National Technology part of the construction project package 8 Bac Ninh General Hospital, the Corporation is the owner of Red River economic contract to perform the entire construction and installation works, the more valuable 198 billion
According SHB Corporation Urban Construction Red River is only authorized by the Corporation for the construction of the Red River project, not the main subject of the contract. Thus, under the above contract, the Project Manager construction of Bac Ninh on the amount paid to the Corporation the Red River.
SHB confirmed, the custody bank payment volume of construction Bac Ninh General Hospital on account of the Joint Stock Corporation is matched by the Red River which is the subject of money comes from the the Corporation as part of Red River. Amount not over 22,794 billion comes from the policyholder's Corporation Urban Construction Red River.
SHB also sue
Notably, SHB, said although the amount custody but the "spirit of goodwill and cooperation", SHB has repeatedly asked the Corporation to make the Red River to clarify responsibilities and obligations leader in loan guarantee letter. Bank said the policy does not retain this amount for debt recovery.
However, SHB, the Corporation Red River was "uncooperative, ing flows debt, unable to make repayment plans guaranteed amount under the guarantee" and "this has affected and the SHB's operating subsidiaries, associated companies of this corporation. "
By Date 02/05/2013, SHB Hanoi branch filed the conditions Corporation Red River violated the guarantee by the People's Court in Tay Ho district, and accepted by the court on 15/5 / in 2013. The court had summoned Song Hong Corporation to work on 07/06/2013 but the Corporation Red River for absence.
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