Contents of the Asset Liquidation Plan of the People's Credit Fund

To be specific:, according to the provisions of Article 25 of Circular 23/2018/TT-NHNN, the asset liquidation plan of the people's credit fund must be approved by the General Assembly of Members of the people's credit fund and must include at least the following contents:

1. Name, address, website (if any) of the people's credit fund.

2. Name, address, and contact phone number of members of the Board of Directors, members of the Control Board or full-time controllers, and the Director of the people's credit fund.

3. List of members of the Liquidation Council (including name, address, and contact phone number of each member).

4. Summary of financial and operational status (actual value of charter capital, bad debts, debt situation, receivables, and payables including on-balance-sheet and off-balance-sheet) as of the time the dissolution is proposed or the time the branch of the State Bank has a written request for the people's credit fund to implement asset liquidation; clearly specifying the debt repayment capacity and other asset obligations; the debt repayment period, and contract liquidation.

5. List of capital-contributing members and the capital contribution ratio of each member.

6. Plans and measures to handle rights and obligations, specifying the liquidation roadmap, asset distribution scheme.

7. Plans for archiving records and documents after the license is revoked.

8. Responsibilities of organizations and individuals related to the asset liquidation process, dissolution, and license revocation.

See more: Circular 23/2018/TT-NHNN effective from November 01, 2018.

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