The negotiation to cancel the sale of 32ha of Phuoc Kien land between Tan Thuan and Quoc Cuong Gia Lai is broken?

With the direction of the HCM City Party Committee, Tan Thuan will have to negotiate with Quoc Cuong Gia Lai company to cancel the contract of 32.2 hectares of land, but negotiations have not yet results.

On the afternoon of April 26, Tan Thuan Investment and Construction One Member Limited Company had a meeting with Quoc Cuong Gia Lai Joint Stock Company (QCG) to negotiate the cancellation of the assignment of more than 32 hectares of land. Phuoc Kien residential area (Phuoc Kien commune, Nha Be district). This land is considered by the HCM City Party Committee to be a selling contract without reporting to the Standing Committee of the City Party Committee as stipulated.

Standing Committee of the City Party found that this contract is not in accordance with Decision No. 1087-QD / TU of the Standing Committee of the City Party to promulgate regulations on management and use of assets are houses, land use rights One member limited liability companies of the City.

According to the representative of QCG, at the negotiation, the company agreed to return the land to Tan Thuan Company and cancel the transfer contract, but also requires the seller to be liable for damages by Interest payment method, compensation offset for the amount of money that the two parties have previously traded because of unilateral termination of the contract.

With the conditions of QCG, Tan Thuan said that it is not possible to decide and need to report to the owner of the office of the Party Committee for further solutions.

The negotiation to cancel the sale of 32ha of Phuoc Kien land between Tan Thuan and Quoc Cuong Gia Lai is broken?

Under the previous purchase contract, with the payment period, up to August 2017, QCG paid nearly 400 billion VND for the contract of transfer of land 32.2 ha.

Nguyen Thi Nhu Loan, Chairman of QCG, said that the company bought the project, confirming that it has thoroughly researched and bought at the market price. However, she also stressed that if the city wants to withdraw the business will return and the seller must have reasonable compensation agreement.

According to Loan, all of the land purchased by QCG from Tan Thuan Company is not public land. Both parties are real estate businesses and have a clear legal entity.

“When I bought the board was agreed to buy, Tan Thuan is also the same, the Party Committee of Ho Chi Minh City agrees.If Tan Thuan said 100% capital of the Party Committee, the land is sold as public property is unreasonable. This means that the sale of apartments is also public property, subdivision selling is also selling public property, public opinion is understanding lame, “she said.

According to Loan, the sale price of the land has been adjusted to increase according to the contract appendix and the market price. Specifically, after signing the contract and payment is completed, in December 2017 Tan Thuan issued for QCG official contract suspension under the direction of the City Party Committee.

By February, 2018, Tan Thuan Company and QCG signed the appendix No. 3 adjusting the unit price explained by the Department of Natural Resources and Environment.

The total amount of additional VND155 billion will be paid by QCG by 70% by the end of 2018 and the rest by Q1 / 2019. QCG said that the total value of this land is VND632 billion, not VND419 billion.

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