On September 28, 2026, at the People’s Court of Region– Hung Yen Province, the first-instance commercial court session regarding the “Dispute over Asset Division and Debt Settlement Agreement” officially took place. Participating in the proceedings as legal counsels protecting the lawful rights and interests of the Defendant were Attorney Do Xuan Thu and Attorney Nguyen Thi Sen of SB Law Co., Ltd.
Case Overview The dispute arises from corporate reorganization, corporate division, and asset transactions between XXX Co., Ltd. (Plaintiff) and YYY Trading and Services Co., Ltd. (Defendant).
- Plaintiff’s Claims: To compel the Defendant to pay a principal debt of VND 2 billion together with accrued interest, and simultaneously request the attachment, recovery, and offsetting of a portion of the land area and land-attached assets pursuant to the Asset Division Agreement.
- Defendant’s Counterclaims: To request the Court to declare the Asset and Debt Division Agreement null and void due to its fictitious nature; to deny the legal validity of the “debt assumption” agreements at the banks; and to compel the Plaintiff to restitute the contributed capital and other related amounts.
Legal Footprint of SB Law Attorneys at the Trial At the trial, demonstrating high professional dedication, legal acumen, and profound expertise in corporate, civil, and land laws, Attorney Do Xuan Thu and Attorney Nguyen Thi Sen presented a rigorous and logical system of legal arguments, delivering sharp legal grounds to maximize the protection of their client’s lawful rights and interests:
(1) Highlighting Severe Violations of Subject and Authority: Clearly analyzing that the execution of the Asset Division Agreement between the two corporate legal entities exceeded their jurisdiction regarding the capital contributions owned personally by the members, and that the corporate division failed to fully comply with the procedural requirements regarding notification to creditors pursuant to the 2020 Law on Enterprises.
(2) Clarifying the Fictitious Nature of the Transaction: Proving that the Asset Division Agreement concluded upon the corporate division was inherently fictitious, serving to conceal the actual asset transfer transaction and violating the conditions stipulated by the 2015 Civil Code.
(3) Safeguarding the Client’s Lawful Financial Interests: Submitting comprehensive documents and evidence concerning the client’s actual capital contribution cash flows as well as investment and incremental asset renovation costs, thereby solidly substantiating the Client’s counterclaims.
The dedication and active participation of SB Law attorneys in these proceedings not only affirm their robust professional capacity in commercial litigation but also make a vital contribution to upholding justice and ensuring the legitimate and lawful rights of corporate and individual clients before the court.
Selected images from the first-instance trial:
