Procedure for Dissolution of a Single-Member Limited Liability Company Owned by the State

17:05, 10/07/2024

This is an important content stipulated by the Government of Vietnam in Decree 19/2014/ND-CP promulgating the model charter of the single-member limited liability company with the State as the owner.

Decree 19/2014/ND-CP stipulates that the dissolution of the Company shall be in accordance with the provisions from Article 24 to Article 31 of Decree 172/2013/ND-CP on the establishment, reorganization, and dissolution of single-member limited liability companies owned by the State and single-member limited liability companies that are subsidiaries of single-member limited liability companies owned by the State, and related laws.

dissolution, bankruptcy, decree 19/2014/ND-CP

Additionally, the form of the corporation will terminate in one of the following cases:

- The parent company is dissolved according to Clause 1 Article 45 of Decree 19;- The corporation no longer satisfies the conditions for existence as prescribed by law regarding state corporations and must be dissolved according to the comprehensive Scheme for arranging and renewing state-owned enterprises approved by the Prime Minister of the Government of Vietnam;- Other cases as prescribed by law.

Moreover, Decree 19/2014/ND-CP stipulates that the bankruptcy of the Company shall be carried out in accordance with the provisions of the Bankruptcy Law.

Refer to related regulations in Decree 19/2014/ND-CP, effective from April 29, 2014.

Thu Ba

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