Managers of Dai Tan Ethanol Plant evade creditors

On December 26, about ten creditors showed up at the headquarters of the Dong Xanh Company in Hai Chau District in Da Nang City to demand their due payment from the elusive management of the Dai Tan Ethanol Plant, a unit of Dong Xanh Company.

Cassava in the Central Highlands is lying unsold after the Dai Tan Ethanol Plant went insolvent in Quang Nam Province (Photo: Laodong)

Creditors came from the central highland province of Kon Tum and central province of Quang Nam where the Dai Tan Ethanol Plant is located.

The company has yet to pay for remunerations of upto VND21 billion (US$1 million) for materials, food and loading and unloading costs.

Pham Thi Ngoc Thanh from Kon Tum Province said that they came very early in the morning to meet with Luu Quang Thai, chairman of the Dong Xanh Company. However the company closed the door and Thai did not respond to phone calls.

According to the creditors, Thai tried to clarify that he did not ‘go missing’ as some press agencies had reported. He also had a meeting of the People’s Committee of Quang Nam Province about back debts at the Dai Tan Ethanol Plant. However, he has so far refused to meet with creditors.

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By Ng.Khoi – Translated by Hai Mien

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