Guidelines for handling debts and excluding assets when converting SOE ownership

From April 1, 2022, the handling of received debts and excluded assets will be implemented in accordance with Circular 07/2022/TT-BTC .

Guidelines for handling debts and excluding assets when converting SOE ownership

Guidelines for handling debts and excluding assets when converting SOE ownership (Illustration image)

Specifically, in Article 7 of Circular 07/2022/TT-BTC stipulating:

Debt Trading Company implements the forms of dealing with debts and excluded assets that have been received in accordance with the provisions of Decree 129/2020/ND-CP and the Company's financial regulations, ensuring the principle of publicity, transparent and consistent with current regulations for each form of debt and asset handling. For assets being land use rights, the handling must comply with the provisions of the law on land.

In there:

* For assets (including debt security assets) with a residual value of VND 100 million or more in the accounting books , the Debt Trading Company hires an organization with the function of price appraisal to determine the value. to organize the sale of assets by the prescribed auction method.

* For assets (including assets to secure a debt) with a residual value of less than VND 100 million in the accounting books , the Debt Trading Company decides to choose to sell by auction method or by agreement according to law. price is not lower than market price.

In case the assets are not traded on the market, the Debt Trading Company hires an organization with the function of price appraisal to determine the price as a basis for selling the asset and is responsible for deciding the selling price of the asset.

* For properties received as designated by the Government or the Prime Minister , in case it is necessary to repair or upgrade the efficiency of asset handling according to regulations, the Debt Trading Company may use source of business capital to perform in accordance with the functions and tasks according to the competence prescribed and directed by the Government and the Prime Minister.

The amount recovered after deducting the expenses incurred in connection with the repair and upgrading of the property, the remaining amount shall be made according to the provisions of Article 9 of Circular 07/2022/TT-BTC .

* For property lots of 01 enterprise at 01 address:

- For a lot of assets including assets with the remaining value according to the accounting books of less than VND 100 million, the Debt Trading Company decides to choose to sell by auction method or negotiate at a price not lower than market.

If there is no market transaction in the lot, the Debt Trading Company hires an organization with the price appraisal function to determine the price as a basis for selling the asset, and the Debt Trading Company is responsible for that. determine the selling price of the property.

- For lots of assets in which assets have a residual value of VND 100 million or more according to the accounting books, the Debt Trading Company hires a valuation organization with the function of price appraisal to appraise the price and execute it. appear as follows:

+ In case the total value according to the valuation results of the asset lot is VND 100 million or more, the Debt Trading Company will auction according to regulations.

+ In case the total value according to the valuation results of the property lot is less than VND 100 million, the Debt Trading Company shall decide to choose the form of auction or agreement sale.

Note:

- The starting price for auction or negotiated sale is determined not to be lower than the market price or the price determined by an organization with the price appraisal function (in case of hiring an organization with the price appraisal function).

- In case of sale by agreement method but there are 02 or more buyers (who are organizations or individuals) and pay the same price, a secret ballot will be conducted with the starting price being the equal payment price and the buyer The person who pays the highest price is the one who gets to buy the property lot.

In case buyers vote by secret ballot with the same price, the secret ballot will continue until one buyer pays a higher price than the other, according to the principle that the starting price is the same price paid for the secret ballot. adjacent before.

- In case the debtor fully pays the principal within 12 months from the date the debtor commits to paying off the principal, the Debt Trading Company considers writing off the late payment interest (including late judgment interest in case court decision) after the debtor pays off the principal as committed.

- For irrecoverable debts (including debts handled before handing over) that have been tracked by the Debt Trading Company off the balance sheet for more than 10 years (including the time the enterprise monitor off the balance sheet before transferring it to the Debt Trading Company), the Debt Trading Company reports to the Ministry of Finance for comments before the Debt Trading Company decides to exclude or continue monitoring. on the books as prescribed at Point g, Clause 2, Article 17 of Decree 129/2020/ND-CP .

- For the debt received by appointment , the Debt Trading Company shall base itself on the designated debt settlement plan approved by the competent authority and the forms and contents of debt settlement as prescribed in Decree 129/2020. /ND-CP for processing.

Some cases of property handling

- In case the asset auction fails, the Debt Trading Company adjusts the starting price according to regulations to continue the auction. The maximum reduction is not more than 10% of the starting price of the previous unsuccessful auction.

- For assets that have no recoverable value, assets that need to be destroyed or dismantled, the Debt Trading Company shall coordinate with the enterprise to organize the destruction, dismantling or hire an outside organization to perform the destruction, dismantling.

Jewel

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