T.V.Ph, a sibling of billionaire T.K.P, has filed a lawsuit against Sacombank to the Ho Chi Minh City People’s Court.

Photo: Tuoi Tre

The case related to safe lease contract between Ph. and T.H.H.L., adopted daughter of Mrs. P., with the bank on May 28, 2012, before the time the contract ends.

The adoptive daughter and T.V.Ph, representative for P’s siblings, had previously signed an agreement that all of the jewelry and valuable papers, worth up to VND1 trillion, left in the safe would continue to be sealed off in another safe at Sacombank.

Under the contract, the safe can only be opened with consensus from both parties.

If there are any disputes, the final decision for the opening of the safe will be given by state authorities or the judgment of the court.

The contract lasts for one year and can be renewed.

One month before the lease expired, Ph. sent a document to the bank to ask for the offering to extend the lease for one year and advanced the leasing fee.

However, on April 10, the bank announced that it would open the safe and return the assets within the next 90 days.

Then, on May 23, the bank continued to announce its unilateral action, opening the safe for asset disposal.

“The act without my consent has violated the safety and security of client assets,” Ph. claimed.

After the meeting between the three parties on May 30, they have yet come to an agreement, Sacombank continued its unilateral act and transferred all assets in the safe to H.L.

Source: tuoi tre