AIST's proposal
One option to consider โ not something anyone must follow
AIST puts forward a proposal so the parties have a balance of interests to weigh instead of just waiting. AIST does not carry out a restructuring and nobody is bound by this proposal unless they sign for themselves.
1. The situation, in short
- The school was dissolved by Decision 3693/Qฤ-UBND of 31 December 2025, after educational activities were suspended in June 2024.
- Recorded debts run to trillions of VND; remaining assets are worth far less. Exact figures must come from an official inventory โ AIST does not publish its own numbers.
- Under bankruptcy law, secured creditors, State obligations and employees rank first; parents are unsecured creditors.
- Parents have no official information on who holds the assets and records, what happened to the money paid, or which agency is in charge.
So the first step is not choosing a plan, but jointly asking the State to clarify and supervise.
2. What AIST proposes
A model in which the school could operate again under a new operating entity, with real capital from an investor, and parents who voluntarily take part receive rights matching what they paid (shares and/or tuition rights), instead of waiting for whatever is left after liquidation.
The State clarifies and supervises
Inventory and seal assets and records; name a focal point; hold a multi-party meeting. Without this, no plan is credible.
An investor brings real capital
Cash to settle urgent obligations and fund operations. In return, the investor manages in proportion to its capital.
Parents choose for themselves
Those who want to sign separately, with independent counsel, to convert what they paid into rights in the new entity. Those who do not keep their debt and every right to claim or sue.
Figures, ratios and scenarios are in the simulation board and the PDF. They are simulations for discussion, not commitments.
3. Who is bound by this proposal?
Nobody, unless they sign
The proposal takes effect only for a family that voluntarily signs its own contract, after independent legal advice and legal procedure.
Not an authorisation to AIST
Authorising AIST (if you do) only lets AIST speak on your behalf; it never converts anyone's debt into shares automatically.
No change to others' rights
Parents who do not take part keep their contract, their claim and every right to complain, report or sue.
4. What AIST does not promise
- No promise of 100% or any recovery rate
- No promise of reopening by any date
- No claim that any investor has committed
- No figures not confirmed by the competent authority
- Publish the proposal and simulation for anyone to check
- Update every two weeks, even with no progress
- Stop and say so if the proposal is no longer viable
- Keep the common programme separate from the proposal
5. If the proposal fails?
Parents remain exactly where they are legally โ creditors with every right under the law โ and keep the Common Voice figures for any later procedure (meeting, mediation, court, bankruptcy or recovery). Nobody loses anything because AIST made a proposal.