Vietnam has won a high profile lawsuit in which South Fork Ltd Company of the South Fork was licensed by the Vietnam Ministry of Planning and Investment in 2004 to invest in a tourist park in Hoa Thang Commune, Bac Binh District, In the first phase, the provincial People’s Committee handed over more than 330ha of land to the It also said it would revoke the investment license in the following five months unless the project got off the ground, even though the investor proved it had completed the legal capital. During an inspection in Mid 2010, the provincial People’s Committee found development or construction of the project had not begun. Thanh Nien News Wire reported in 2007 the provincial committee licensed Duong Lam Joint Stock Company to exploit titanium on 120ha of the aforementioned project following an agreement between South Fork and Duong Lam. However, the The land allocated for the project is currently vacant, and Duong Lam Company is also not allowed to carry out its titanium exploitation project there. Late last year the International Court of Justice overruled South Fork’s lawsuit and asked the This is the first international investment lawsuit VOV |
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