Procedures for Termination of Sentence Execution for Dissolved or Bankrupt Commercial Legal Entities in 2020

This is a notable provision in Decree 55/2020/ND-CP stipulating details for certain articles of the Law on Enforcement of Criminal Judgments regarding the execution of judgments for commercial legal entities.

Procedures for the Termination of Execution of Sentences for Dissolved, Bankrupt Commercial Legal Entities, 55/2020/ND-CP

Procedures for the Termination of Execution of Sentences for Dissolved, Bankrupt Commercial Legal Entities (Illustration)

To be specific, in the case of dissolved or bankrupt commercial legal entities, the criminal sentence execution agency shall proceed with termination procedures for sentence execution as follows:

- The criminal sentence execution agency shall cooperate with the state management agency for the commercial legal entity to prepare a record identifying the dissolution or bankruptcy of the commercial legal entity;

- The head of the criminal sentence execution agency shall issue a decision to terminate the execution of sentences for the commercial legal entity and send this decision to the Court that issued the execution decision, the same-level Procuracy, the commercial legal entity, and the state management agency for the commercial legal entity;

- The criminal sentence execution agency and the state management agency for the commercial legal entity shall publicly announce the decision to terminate the execution of sentences for the commercial legal entity. The announcement shall be carried out following the provisions of Clause 2, Article 9 of Decree 55/2020/ND-CP.

Additionally, Decree 55 stipulates that the issuance and delivery of certificates of sentence completion and certificates of completion of judicial measures shall be executed following Article 166 of the Law on Criminal Sentence Execution.

- For sentences of temporary suspension of operation, prohibition of business, prohibition of operation in certain fields, and prohibition of capital mobilization, the criminal sentence execution agency shall issue a certificate of sentence completion within 05 working days from the date of completion of the sentence period;

- For sentences of permanent cessation of operation, when it is determined that the commercial legal entity has no possibility of resuming operations, the criminal sentence execution agency shall cooperate with the state management agency for the commercial legal entity to verify and prepare a record as the basis for terminating the execution of sentences for the commercial legal entity;

- For judicial measures requiring the restoration of the original state, or measures requiring the implementation of certain procedures to mitigate or prevent further consequences, the criminal sentence execution agency shall issue a certificate of completion of judicial measures within 05 working days from the date of completion of the measures.

Refer to additional regulations in Decree 55/2020/ND-CP effective from July 15, 2020.

Thu Ba

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