FLC yacht to be auctioned for $1.4 mln starting price

By Dat Nguyen   October 20, 2022 | 11:15 pm PT
FLC yacht to be auctioned for $1.4 mln starting price
FLC Albatross. Photo courtesy of Minh Phat Auction
A yacht belonging to property developer FLC is set to be auctioned on Nov. 4 at the starting price of VND35.75 billion ($1.46 million).

FLC Albatross, built in 2017 in Poland, was seized by lender BIDV recently as collateral for a FLC loan.

Bidders must put down a deposit of VND3.57 billion for the yacht, which can carry 12 persons.

It is the latest asset that has been seized from FLC and its subsidiaries after its chairman Trinh Van Quyet was arrested in March for alleged stock market manipulation.

Two other collaterals that are up for auction are Quyet’s Rolls-Royce cars, with prices starting from VND28.03 billion and VND10 billion.

Apart from BIDV, Orient Commercial Bank has seized FLC collateral. It has taken seven condotels, 81 hotel rooms and 169 resort rooms to compensate for FLC and Bamboo Airways debts.

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