Principles for Handling Asset of Vietnam Debt and Asset Trading One Member Limited Liability Company
Principles for Handling Assets of the Vietnam Debt Purchase Company Limited
How are the principles for handling assets of the Vietnam Debt Purchase Company Limited regulated? Looking forward to an early response.The principles for handling the assets of the Vietnam Debt and Asset Trading Corporation Limited Liability Company as stipulated in Clause 2, Article 13 of the Regulation issued together with Circular 62/2021/TT-BTC are as follows:
- Assets must be re-evaluated through advisory organizations that have the function of price appraisal according to the provisions of the law on the management and use of state capital invested in production and business at enterprises, serving as the basis for handling according to the provisions of Clause 1 of this Article.
In the case of using assets and projects for business cooperation, capital contribution, joint ventures, or associations, the contributed value must be agreed upon by the parties but not lower than the value re-evaluated by the advisory organization;
- Organizations shall conduct public auctions, competitive bidding, or direct negotiation in accordance with the law.
In the case of transferring land use rights, the Company shall comply with the provisions of the land law;
- For assets received and used by DATC for business purposes, DATC shall comply with the regulations of the Ministry of Finance on the handover, receipt, and handling of debts and excluded assets during the reorganization and conversion of ownership of enterprises wholly owned by the State, public service providers, and any amending and supplementary documents (if any);
- For assets purchased or received under designation, DATC shall base its actions on the asset buying, selling, and handling plan approved by competent authorities (if any) and apply the forms and principles for asset handling stipulated in Clause 1 of this Article and points a, b, c of this Clause.
In the case DATC receives assets under designation for handling and recovering for the State, it is entitled to asset handling fees based on the principle of covering all asset handling costs plus (+) a part of management costs according to the guidance of the Ministry of Finance appropriate to each designation plan.
Respectfully.
