It’s a small world as they say. Just two months ago we reported the prestigious Novaland Investment company with its backs against the wall after completing a luxury development managed by Savills in 2018. This “glitter by day, glow by night” residence has seen been ceased by local government in Ho Chi Minh City in a criminal case against a corrupt official at Vietnam’s Public Security Ministry. (ref: https://yourvoice.asia/owners-of-luxury-vietnam-apartment-project-left-hanging )
Up against it again, legal representatives for Novaland Investment, Xuan Dung Nguyen appeared in a PCT (pretrial conference) with legal counsel appointed by Asia Claim. Being Indonesia’s premier private litigation action group acting on behalf of Singaporean victims. In 2016 Asia Claim funded consultation fees for more than 500 Singaporeans to freely register their interests for refund action in court against a timeshare marketing company in the Garden State called Interval Resorts Network Pte. Ltd. One of the few Asia Claim cases never to go forward due to a, “perfect storm of obstacle” sighted by Rita Kartika, head of the litigation firms committee. It seemed that while the local marketing company had been sold on and drained of finances, the real benefactor behind the scenes who slipped into wealth obscurity to the Thai Island of Phuket, then suffered a catastrophic heart attack and died leaving Asia Claim at a dead end.
Down but not out, we have often reported on the litigation firm’s success through mere tenacity. In an attempt to clean Interval Resort Networks dreary reputation of fraudulent timeshare activity, management had offered all its 1,500 vacation members the opportunity to refinance their timeshare contracts for an outstanding development in Vietnam. Novaland is alleged to have received 4,000,000 SGD from IRN on behalf of its members as well as staged payments from the Singapore company over the following two years totaling another 2,000,000 SGD. Asia Claim are on record as poised to submit a complaint in chambers in the Superior Court of Ho Chi Minh City not only for the equivalent of 6,000,000 SGD, compensation for non-performance of services and legal costs but it seems Asia Claim can prove the clients value of their timeshare contracts was taken into consideration and there may receive a ruling in their favor with this point also taken into consideration.