No new trial in coffee royalty divorce settlement: Supreme Court
Legally, the move ends the seven-year legal battle between the chairman of coffee giant Trung Nguyen Group, Dang Le Nguyen Vu, and his ex-wife Le Hoang Diep Thao.
The decision was made by the Judicial Council of the Supreme People’s Court after a meeting on Friday afternoon, but its deliberations and rationale have not been made public.
Vu, 50, and Thao, 48, married in 1998. She filed for divorce in 2015.
Thao asked for 51% of Trung Nguyen Investment, the holding company that owns the majority of Trung Nguyen Group shares.
She also proposed that they each get 15% (VND814 billion, $35 million) from Trung Nguyen Group and 7.5% (VND43 billion, $1.85 million) from Trung Nguyen instant coffee.
She agreed to give Vu her shares in four other companies under the Trung Nguyen brand.
The Supreme People’s Court ordered in May last year that Vu would get 59.1% of the combined assets of VND7.93 trillion ($345 million) while Thao would get the remaining 40.9%.
As for the shares of the companies, valued at VND5.65 trillion, he decided that they should be split 60:40 in Vu’s favor and he would retain Trung Nguyen’s leadership.
In January this year, the Supreme People’s Procuratorate declared that the divorce should be annulled due to errors in the trial process and suggested a retrial.