Former executives at Vinashin put on trial

VGP – The first hearing for ex-Chairman of scandal-hit Vinashin Phạm Thanh Bình and other eight accomplices opened on Tuesday in the port city of Hải Phòng.

March 27, 2012 5:52 PM GMT+7

All defendants have allegedly been indicted in accordance with Article 165 of the Penal Code for deliberately violating the State’s regulations on economic management, causing serious consequences.

Vinashin is Việt Nam’s shipbuilding giant which is now undergoing restructuring after going bankrupt last year with debts amounting to more than US $4billion.

The Government-backed restructuring plan is administered by a steering committee led by Deputy PM Vũ Văn Ninh. The committee’s responsibilities include making recommendations on measures to quickly stabilize the giant’s operations.

By Hải Minh