Hoa Binh Construction Group officially won the lawsuit against FLC Group Joint Stock Company, forcing FLC Group to pay a debt of more than 276 billion VND.

On March 9^th, 2021, ALB & Partners Law Firm sent to Hoa Binh Construction Group Joint Stock Company (HBC) a letter Numbered 17-21 / CV / ALB-HBC regarding an announcement on Hoa Binh's official outcome, which was the winning of the lawsuit against FLC Group Joint Stock Company, forcing FLC Group Joint Stock Company to pay a debt amount of more than 276 billion VND.

Previously, in the fourth quarter of 2014, Hoa Binh and FLC signed the Construction Contracts No. 18/2014 / HDTC / FLC-HBC dated December 1^st, 2014 (Contract 18) and Contract No. 57/2014 / HDTC / FLC-HBC dated October 15^th, 2014 (Contract 57) to construct the following items: Clubhouse, Conference Center; Zone Fusion and Alacarte area of ​​the FLC Sam Son FLC eco-tourism resort project invested by FLC in Sam Son town, Thanh Hoa province.

In order to perform the two above-mentioned contracts, on a timeline of only 9 months, HBC had to mobilize its maximum human and material resources for continuous construction, with non-stop overtime including over the Lunar New Year to ensure quality and adherence to the strict schedule as required by FLC. The project was inaugurated in time and served for the National Tourism Year in Sam Son, Thanh Hoa, held in July 2015. In 2016, HBC sent the finalization documents for Contract 18 and Contract 57. After that, many letters requesting FLC to approve the settlement documents were sent but HBC still did not receive cooperation from FLC.

Up to now, HBC has taken more than 5 years to completely settle the above debt amount for FLC.

Attached is the Official Dispatch No. 17-21 / CV / ALB-HBC of ALB & Partners Law Firm dated March 9^th, 2021 on the report of the progress of dispute resolution between HBC and FLC.

Official Dispatch 17-21

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