Ho Chi Minh City court summons Sunwah Pearl building owners to attend court proceedings

According to the notice, the Ho Chi Minh City People’s Court has accepted civil case No. 235 concerning a “dispute between company members and company managers.” 

The plaintiff is Sato Investment Company Limited (Sato Company). 

The defendants include Choi Koon Shum, Choi Chun Sze Johnson, and Bay Water Company Limited (Water Bay Company).

The party with related rights and obligations is Sun Wah Vietnam Real Estate (D1) Limited (address: P.O. Box 957, Offshore Incorporations Center, Road Town, Tortola, British Virgin Islands), whose legal representative is Choi Koon Shum.

Sato Company contributed capital (holding 10 percent) together with Sun Wah Company (holding 90 percent) to establish Bay Water Company to implement the Sunwah Pearl building project (Thanh My Tay Ward, Ho Chi Minh City).

The specific issues that the plaintiff requests the court to resolve include:

Requiring the defendants to provide Sato Company with all records, meeting minutes, member council voting records, and related documents from 2016 to the present.

Requiring the defendants to provide Sato Company with all information regarding Bay Water Company’s bank accounts and financial transactions, loan documents, and all records related to Bay Water Company’s borrowings from 2016 to the present.

Requiring the defendants to provide Sato Company with other records and documents related to the activities of the Members’ Council and the General Director of Bay Water Company from 2016 to the present, in accordance with the company charter dated May 10, 2016 of Bay Water Company.

Requiring Choi Koon Shum and Choi Chun Sze Johnson to compensate for the entire amount of interest, fees, and costs that Bay Water Company has paid under three loan agreements in violation of the company charter, with the provisional value exceeding VND75 billion.

Requiring Choi Koon Shum and Choi Chun Sze Johnson to compensate Bay Water Company for all damages incurred as a result of violations of their duties as managers of Bay Water Company.

In particular, Choi Koon Shum is also alleged to have failed to convene Members’ Council meetings, signed and approved invalid resolutions, and failed to distribute profits to company members in accordance with Bay Water Company’s charter.

These violations of the obligations of managers of Bay Water Company have resulted in damages to Bay Water Company, including litigation-related costs and other damages with a provisional value of VND1.7 billion.

Choi Koon Shum and Choi Chun Sze Johnson are required to convene Members’ Council meetings in accordance with the minimum frequency prescribed by the Law on Enterprises.

Failure to attend may result in trial in absentia

Pursuant to the Civil Procedure Code and at the request of the plaintiff, the court announced that it will hold a meeting to examine the submission and public access to evidence, and conduct the first mediation session at 2:00 pm on December 24, 2025; the second session (if any) at 8:30 am on January 8, 2026.

The first-instance trial is scheduled as follows: the first hearing at 8:30 am on February 5, 2026; the second hearing at 8:30 am on March 5, 2026; and the third hearing (if any) at 8:30 am on April 3, 2026, at the headquarters of the Ho Chi Minh City People’s Court.

“The Ho Chi Minh City People’s Court requires the above-mentioned litigants to be present at the specified times to participate in the proceedings. If they are absent without a legitimate reason, the court will proceed to resolve the case in their absence,” the court’s notice stated.

Regarding the dispute among the owners of the Sunwah Pearl buildings, Tuoi Tre (Youth) newspaper previously reported that courts at various levels had adjudicated a case in which Sato Company requested the court to annul a resolution amending the charter of Bay Water Company.

(US$1 = VND26,314)