What did Seaprodex Saigon say when the stock dropped to the floor after the decision to open bankruptcy proceedings from the Ho Chi Minh City Court?
The People’s Court of Ho Chi Minh City recently issued a decision to open bankruptcy proceedings with the Saigon Seafood Import-Export Joint Stock Company.Seaprodex Saigon, code: SSN) for insolvency. The Ho Chi Minh City Court has appointed Sen Viet Asset Management Partnership as the asset management unit of SSN during the asset liquidation process…
Regarding stocks, after the decision to open bankruptcy proceedings of the People’s Court of Ho Chi Minh City, SSN dropped to the floor by 14.66% to 9,900 dong/share. Previously, SSN had a series of strong increases to double from VND 5,000 to VND 16,900/share since the beginning of 2021.
On the side of Seaprodex Saigon, the company had a written explanation with the Securities Commission and the investors – shareholders of the business around this decision.
Accordingly, on April 27, 2022, the People’s Court of Ho Chi Minh City decided to open bankruptcy proceedings for Seaprodex Saigon. The content of the decision clearly states, based on the case acceptance file dated January 13, 2022 about the “request to open bankruptcy proceedings” according to the petition of Fortuna Investment and Trading Co., Ltd. Seaprodex.
The decision is based on the first-instance judgment of the People’s Court of District 1 in mid-2021, accepting the claims of the plaintiff Fortuna Company (formerly Thien Phu Company), ordering Seaprodex Saigon to immediately pay the Fotuna’s total amount is more than 100.3 billion dong, including 52.9 billion dong of principal and about 47.2 billion dong of late payment interest.
However, Seaprodex Saigon confirmed that there was no purchase contract between the company and Fortuna, and said that the economic contract with Fortuna in 2011 to buy and sell more than 1,008 tons of coffee for 52.9 billion VND is The fake contract was staged by Ms. Tran Thi Mai H- Director of Thien Phu Company to set up a fake contract with Mr. D, former General Director of Seaprodex Saigon with delivery records made on the same day, invoice price value added on the same day, without the buyer’s signature, stamped “sales by phone) and the receipt of goods with many signs of forgery for Fortuna to present to the court. any records of the purchase and sale of 1,008 tons of coffee and a customer debt of 52.9 billion dong.
“Seaprodex Saigon Company confirms that we are not insolvent. We do not have a debt of VND 52.9 billion to Thien Phu. Seaprodex Saigon is just being harassed by a group of individuals who defy the law to do so. damage the corporate value, the company’s reputation in the market and shake the confidence of investors and shareholders,” the document stated.
Saigon Seafood Import-Export Joint Stock Company (Seaprodex Saigon), formerly a State-owned enterprise, was established on March 31, 1993 with the name Ho Chi Minh City Seafood Import-Export Company. The company officially operates in the form of a joint stock company since 2006. Business lines: export; import; business services and seafood processing for export.
Before getting involved in the lawsuit, Seaprodex Saigon used to be an enterprise with sales of over 600 billion VND/year at the beginning of the last decade. However, along with the long-running lawsuit dispute, the company’s business activities plunged to a few tens of billions of dollars per year in revenue, and a profit of several tens to several hundred million per year.
SSN stock price movement in the past 1 year
at Blogtuan.info – Source: Soha.vn – Read the original article here
