Cases of dismissing written requests for initiation of bankruptcy process in Vietnam

Cases of dismissing written requests for initiation of bankruptcy process in Vietnam

Pursuant to the provisions of Clause 1, Article 35 of the Law on Bankruptcy 2014, the People’s Court shall dismiss the written request for initiation of bankruptcy process in the following cases:

- The requester is not prescribed in Article 5 of this Law;

- The requester does not make amendment to the written request for initiation of bankruptcy process according to Article 34 of this Law;

- Another People’s Court has made a Decision on the initiation of bankruptcy process for the insolvent entity;

- The requester withdraws the written request for initiation of bankruptcy process according to Clause 2 Article 37 of this Law;

- The requester does not pay the bankruptcy fee and bankruptcy advance except the cases in which the bankruptcy fee and bankruptcy advance are exempt.

The Decision to dismiss the written request for initiation of bankruptcy process of the People’s Court must contain the explanation for the dismissal.

The People’s Court must send such Decision to the requester and the People’s Procuracy at the same level with in 03 working days from the day on which the Decision is made.

Cases of dismissing written requests for initiation of bankruptcy process in Vietnam (Internet image)

The Request for reconsidering the dismissal of the written requests for initiation of bankruptcy process in Vietnam

Pursuant to the provisions of Article 36 of the Law on Bankruptcy 2014, within 03 working days from of the receipt of the Decision to dismiss the written request for initiation of bankruptcy process of the People’s Court, the requester or the People’s Procuracy at the same level may request the executive judge of People’s Court who makes the Decision to reconsider the dismissal.

Within 03 working days from of the receipt of the request, the executive judge of People’s Court who makes the Decision must:

- Make a Decision on upholding the dismissal of the written request for initiation of bankruptcy process.

- Make a Decision to cancel the dismissal of the written request for initiation of bankruptcy process and take the case according to the regulations of this Law;

Within 05 working days from of the receipt of the Decision pertaining to the reconsideration of the dismissal of the written request for initiation of bankruptcy process, the requester or the People’s Procuracy at the same level may request the executive judge of the higher People’s Court for reconsideration.

Within 07 working days from of the receipt of the request, the executive judge of the higher People’s Court must:

- Make a Decision to uphold the dismissal of the written request for initiation of bankruptcy process.

- Make a Decision to cancel the dismissal of the written request for initiation of bankruptcy process and request the People’s Court to take the case according to the regulations of the Law on Bankruptcy 2014;

The Decision of the executive judge of the higher People’s Court shall be the final decision. This Decision must be sent to the petitioner, the People’s Procuracy at the same level, the People’s Procuracy making request and the People’s Court having made the dismissal.

Mai Thanh Loi

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