Legal Update - Bankruptcy - 2015
8 June 2015
Frasers’ Restructuring and Insolvency Practice Group has prepared an update on the legal framework with respect to new bankruptcy procedures and the enforcement of security interests in Vietnam, covering the following issues:
- when an enterprise is deemed to be insolvent or bankrupt;
- bankruptcy petitions and bankruptcy procedures;
- management and enforcement of assets subsequent to the Court issuing a Decision to commence bankruptcy proceedings in relation to the bankruptcy of an enterprise;
- establishment and operation of creditors’ meetings; recovery procedures for an insolvent enterprise; realisation and distribution of assets; and declaration of bankruptcy;
- enforcement of security interests for secured creditors and principles for the realisation of secured assets; and
- bankruptcy procedures applicable to credit institutions.
Please click the link below to read this legal update.