Instructions for receiving debts and assets of Vietnam Debt and Asset Trading Corporation (DATC)

15:05, 29/10/2020

This is the important content of the Decree No. 129/2020/NĐ-CP on the functions, tasks and operational mechanism of the Vietnam Debt and Asset Trading Corporation (DATC), issued on October 27, 2020.

10 hình thức xử lý nợ mua, tiếp nhận của Cty TNHH 1TV Mua bán nợ VN

According to the Decree No. 129/2020/NĐ-CP of Vietnam’s Government, the receipt of debts and assets of Vietnam Debt and Asset Trading Corporation (DATC) is regulated as follows:

1. Receipt of debts and assets in accordance with the law on conversion of ownership of wholly State-owned enterprises, public non-business units

- Debts and assets handed over and received must have sufficient documents and in kind (for assets). In case debts and assets do not have sufficient documents and are no longer in kind, the DATC shall send a written notice to the representative agency of the owner and the enterprise or public non-business unit to notify the reason for not accepting the debt so that the enterprise, public non-business units shall continue to manage, monitor or handle according to the provisions of law on enterprise ownership conversion, public non-business units.

- The handover and receipt of debts and assets shall comply with the law on conversion of ownership of wholly State-owned enterprises, and public non-business units.

2. Receipt of debts and assets designated by the Government and the Prime Minister

- Receipt of receivables and assets: DATC, the agency representing the owner and the organization that has the debt and transferred assets shall hand over and receive for settlement of receivables and assets as for debts, assets excluded from the enterprise value, ownership conversion and in accordance with the documents designated by the Government and the Prime Minister.

- Receipt of other assets:

+ DATC receives other assets as designated by the Government or the Prime Minister for further investment, exploitation or capital recovery for the State;

+ Subjects and conditions for receiving and handing over according to the plan approved by competent authorities in accordance with law

View more details at the Decree No. 129/2020/NĐ-CP of Vietnam’s Government, effective from December 10, 2020.

Thuy Tram

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE

69 lượt xem

- The legal regulations in this article are according to Vietnamese Law;
- This English translation is for reference purposes only and not a definitive translation of the original Vietnamese texts;
- Articles may be compiled from a variety of sources;
- Applicable Terms may have expired at the time you are reading;
- If you have any questions about the copyright of the article, please contact us via email [email protected]