Nearly 100 parents crowded the headquarters of the Apax Leaders English-language center chain on Phan Xich Long Street in Phu Nhuan District, Ho Chi Minh City, demanding the chain refund their prepaid tuition fees.

K.T., a parent who joined the group, said that she and many others who showed up had been told they would start to see refunds showing up in installments from Monday of this week, pursuant to a commitment made by Nguyen Ngoc Thuy, also known as Shark Thuy, chairman of Apax Holdings JSC, the owner of Apax Leaders English language centers, on April 9 this year.

According to Thuy’s commitment, Apax Leaders was meant to refund 20 percent in this first installment, with the following four 20 percent installments scheduled for November 20 and December 20 this year and March 20 and April 20 next year.

However, T., along with dozens of other parents, affirmed that they had not been refunded their tuition fees by the evening of Tuesday this week.

Apax Leaders had not made any announcements that the refunds would be delayed.

T. had paid VND105.2 million (US$4,327) in tuition fees and is slated to receive a refunded amount of VND97.7 million ($4,019).

P., another parent, said Apax Leaders had not fulfilled its commitment to refund tuition fees amounting to VND114 million ($4,688) for his two children.

To date, he has not received an explanation from Apax Leaders.

“They made many promises that we would be refunded. October 9 was the deadline [for the refund] in a commitment signed by Shark Thuy, at a meeting between him and parents.

“He committed to taking responsibility before the law if he failed to fulfill the commitment. However, we have not received our refunds,” P. said.

A representative of the Apax Leaders center on Phan Xich Long Street said the refund of tuition fees was not within his jurisdiction. When parents asked him to contact those with competence to make the refunds, he refused.

To ensure security and order, local police officers visited at the center to stabilize the situation.

In November 2022, many parents accused Apax Leaders centers of having collected tuition fees for long-term courses but said the center had failed to arrange classes.

Many former employees denounced the chain for failing to pay their salaries.

Shark Thuy, in March of this year, promised to refund prepaid tuition fees to parents, saying that he needed more time.

The Ho Chi Minh City Stock Exchange last month suspended the trading of IBC shares belonging to Apax Holdings JSC as the company violated regulations on information disclosure.

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