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$6 million bet illegal, lawyer says

17 November 2008

VIETNAM -- As reported by Thanh Nien Daily: "A lawyer has called a wager illegal in which several Vietnamese war veterans and construction workers bet a South Korean builder US$6 million it couldn't complete Vietnam's tallest tower on schedule.

"On Thursday, South Korea-owned Keangnam-Vina Company and several Vietnamese veterans signed a commitment in which the company pledged to wrap up the structural work of the Keangnam Hanoi Landmark Tower on schedule by October 2010.

"...If the South Korean firm misses the deadline, it would lose VND100 billion ($6 million) to Vietnamese veterans and vice versa.

"Both the betting parties said they would donate the proceeds to charity.

"The bet stemmed from an open letter issued on Thursday on the Cuu Chien Binh Viet Nam (Vietnam War Veterans) newspaper by several veterans, construction experts, and engineers who doubted the South Korean builder could conclude the tower as promised.

"But speaking with Thanh Nien Saturday, lawyer Pham Quoc Hung from the Ho Chi Minh City Bar Association said the wager between the two sides was illegal..."

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