The Ho Chi Minh City People’s Court has decided not to annul the arbitration ruling concerning the dispute between Coteccons Construction Joint Stock Company (CTD) and Ricons. The ruling requires Coteccons to pay nearly 170 billion dong to Ricons, including the principal debt, late payment interest from January 1, 2021, to September 24, 2024, and related fees. Coteccons has 30 days from October 24, 2024, to fulfill this payment obligation. However, if the payment is delayed, the company will incur additional late payment interest at the rates specified in the arbitration ruling. Interest will continue to accrue until Coteccons completes the payment.
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