We previously wrote a short piece on Vietnam Town’s troubles back in November about the work stoppage at the site and the lender halting payments.

It seems financial problems continue to affect the development now that some of the sub-contractors have filed to seek foreclosure of the site to satisfy monies they are owed for work.

There is no indication as to what exactly the issue is with the development, but a number of parties have not been paid and to date only one of those has filed to seek foreclosure. TWN Investments also represents some of the investors in the Vallco Mall project which has seen its own share of problems. Vallco has recently gone through a restructuring seeing some of the assets being sold to Orbit Resources and Fred Chan.

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