Texcoms Worldwide is a global provider of specialised solutions for the textile industry, with a history dating back to 2001. Its activities span pre-owned textile machinery solutions, operational excellence and plant optimisation, as well as industrial asset liquidation and relocation. Supported by an international network and a team of more than 300 professionals, Texcoms Worldwide has served more than 3,000 textile industry customers across multiple markets.

As part of its investment activities in Vietnam, a foreign-invested company within Texcoms Worldwide engaged ADK VIETNAM LAWYERS in connection with the assessment, preparation and participation in an auction of a portfolio of industrial assets attached to a land area of 30,311.4 m², formerly located in Dien Ban Town, Quang Nam Province and now within Da Nang City, Vietnam.

The auction portfolio comprises factory buildings, ancillary facilities, specialised textile and yarn-production machinery and equipment, together with other assets used for industrial production. The underlying land is leased by the State on an annual land rental payment basis.

ADK VIETNAM LAWYERS became involved from the stage at which the client was assessing the investment opportunity. Our work included legal due diligence on the auctioned assets; review of land, factory, construction and other asset-related matters; assessment of legal risks affecting the client’s ability to take over and operate the assets following the auction; and advice on auction participation requirements, documentation and the legal steps required for the transaction.

During the auction process, the ADK VIETNAM LAWYERS team continued to assist the client with the preparation and review of documentation, resolution of legal issues arising during the process, and coordination with the relevant organisations, authorities and stakeholders.

The transaction brings together several areas of Vietnamese law, ranging from asset auctions in the course of civil judgment enforcement and State land leased on an annual rental basis to the legal status of assets attached to land and the investment and corporate procedures required when the investor takes over and operates the acquired assets. ADK VIETNAM LAWYERS’ role therefore extends beyond the auction process to the legal framework for the client’s subsequent acquisition, management and operation of the asset portfolio.

Following the auction, ADK VIETNAM LAWYERS is expected to continue supporting the client with the post-auction workstreams, including the asset sale and purchase agreement, payment and handover, land-related and asset ownership procedures, as well as the investment, corporate and other regulatory matters required for the client’s operation of the project.

The transaction further reflects ADK VIETNAM LAWYERS’ experience in handling complex matters involving asset auctions, civil judgment enforcement, industrial real estate, investment and land-related legal issues in Vietnam. ADK VIETNAM LAWYERS continues to adopt a practical, comprehensive and solution-oriented approach to high-value transactions requiring close coordination across multiple areas of law.