Penalties for Individuals Disposing of Asset to Evade Execution?
Clause 5, Clause 8, Article 52 of Decree 110/2013/ND-CP stipulates:
- A fine ranging from 10,000,000 VND to 20,000,000 VND shall be imposed for any of the following acts:
a) Disposing of assets to avoid fulfilling the obligation of judgment enforcement or to evade asset seizure;
b) Illegally using, consuming, transferring, exchanging, concealing, or altering the status of seized assets;
c) Destroying seized assets;
d) Failing to comply with the decision of the competent enforcement authority regarding the collection of money held by a third party on behalf of the judgment debtor;
e) Intentionally not complying with the court's temporary emergency measures or judgments and decisions that need to be executed immediately.
- Remedial measures:
Compulsorily restoring the initial status that was altered for actions specified at Point a, Clause 4, Point a and Point b, Clause 5 of this Article.
Thus, the act of disposing of assets to avoid fulfilling judgment obligations will be fined from 10,000,000 VND to 20,000,000 VND, followed by the mandatory measure to restore the original status.
Additionally, Clause 1, Article 66 of the Law on Civil Judgment Enforcement 2008 stipulates:
The execution officer has the right, either independently or upon the written request of the concerned party, to immediately apply measures to ensure judgment enforcement, aimed at preventing the disposal, destruction of assets, or evasion of judgment enforcement. When applying measures to ensure judgment enforcement, the execution officer is not required to notify the concerned party in advance.
When discovering acts of asset disposal, the family also has the right to submit a request to the enforcement agency to apply measures to prevent the disposal, destruction of assets, or evasion of judgment enforcement.
The measures to ensure judgment enforcement include:
a) Freezing accounts;
b) Temporarily holding assets or documents;
c) Temporarily suspending the registration, transfer, or change of the status of assets.
Respectfully!
