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Bianfishco can’t yet declare bankruptcy

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By SeafoodSource staff
16 April, 2012 - The petition by the farmers, who are the creditors of Bianfishco, to the Can Tho City People’s Court, for conducting bankruptcy proceedings for Bianfishco, has been refused by the court.

On April 11, the lawyer, representing tens of the farmers, who are the creditors of Binh Anh Seafood Company (Bianfishco) filed a petition to the Can Tho City People’s Court, requesting to conducting bankruptcy proceedings for Bianfishco.


Lawyer Nguyen Thi Hong Ngan from the HCM City Bar Association, authorized by 20 farmers, said that the court’s officer refused to handle the case, because the Bianfishco’s case has been assigned by the Can Tho City People’s Committee to the debt settlement task force.


Nguyen Van Chien, a farmer, to whom Bianfishco owes VDN 7 billion, said that as a creditor, he has the right to ask the court to open bankruptcy proceedings for Bianfishco. Chien and other fish farmers have also requested the court to consider the personal responsibility of Pham Thi Dieu Hie, general director of Bianfishco, in order to settle the debts of the company soon.

Click here to read the full story from VietNamNet Bridge > 

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