Freezing Accounts in Civil Judgment Enforcement

Many investors, driven by the goal of "super profits," conduct construction not in accordance with their permits. When discovered, they stubbornly refuse to comply with the demolition decision. In a similar case, the Chairman of Hanoi issued a decision that if the investor of the 8B Le Truc building deliberately obstructed the handling of construction violations, all accounts would be frozen.

So, when are accounts frozen?

Firstly, account freezing at banks, other credit institutions, and the State Treasury is applied if during the resolution of a case there are grounds to believe that the obligated party has assets in banks, other credit institutions, or the State Treasury.

Secondly, in the account freezing decision, the frozen amounts and assets at the depository must be clearly specified. The executing officer will deliver this decision to the head of the agency managing the assets and prepare a report on the delivery of that decision. This report must bear the signatures of the executing officer and the recipient of the account freezing decision.

(Based on the provisions of Article 20 of Decree 62/2015/ND-CP Guiding the law on civil judgment execution)

Hence, it can be seen that the decision of the Chairman of Hanoi to freeze the accounts of the investor of the 8B Le Truc building is lawful. However, the freezing of accounts must ensure the confidentiality of the accounts and assets of the individuals subject to the execution.

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