Principles of operation of the Judicial Teams in the process of resolving bankruptcy cases in Vietnam

Principles of operation of the Judicial Teams in the process of resolving bankruptcy cases in Vietnam (Internet image)

1. Tasks and powers of the Judicial Teams in the process of settling bankruptcy cases in Vietnam

According to Article 4 of Circular 01/2015/TT-CA, the duties and powers of the Judicial Teams in the process of settling bankruptcy cases are prescribed as follows:

- The Judicial Team that handles the petition for initiation of bankruptcy proceedings shall perform the duties and powers of the judge in accordance with the provisions of Article 9 of the Law on Bankruptcy 2014, and other provisions of the bankruptcy law and regulations in Circular 01/2015/TT-CA.

The Judges' Group begins to perform its duties and powers from the date of its establishment decision by the Chief Justice as prescribed in Clause 3, Article 2 of Circular 01/2015/TT-CA and terminates the performance of its duties and powers after the bankruptcy case has been settled or after the decision of the Chief Justice of the People's Court is issued as prescribed at Point c, Clause 4, Article 2 of Circular 01/2015/TT-CA.

- The Judges' group dealing with the request for reconsideration and protest against the decision to open or not to initiate bankruptcy procedures shall perform its tasks and exercise its powers as prescribed in Article 44 of the 2014 Bankruptcy Law and other provisions of the bankruptcy law and Circular 01/2015/TT-CA.

The Judges' Group begins to perform their duties and powers from the date of establishment decision of the Chief Justice as prescribed in Clause 3, Article 3 of Circular 01/2015/TT-CA and terminates the performance of their duties and powers after settling the request for reconsideration or protest against the decision to open or not to initiate bankruptcy procedures specified in Article 44 of the Law on Bankruptcy 2014.

- The Judges' group dealing with petitions and protests against decisions declaring enterprises or cooperatives bankrupt shall perform their tasks and exercise their powers as prescribed in Article 112 of the Law on Bankruptcy 2014 and other provisions of the bankruptcy law and Circular 01/2015/TT-CA.

The Judges' Group begins to perform their duties and powers from the date of establishment decision of the Chief Justice as prescribed in Clause 3, Article 3 of Circular 01/2015/TT-CA and terminates the performance of their duties and powers after completing the application or protest against the decision to declare the enterprise or cooperative bankrupt specified in Article 112 of the Law on Bankruptcy 2014.

2. Principles of operation of the Judicial Teams in the process of settling bankruptcy cases in Vietnam

During the settlement of the bankruptcy case, the Judges' Team must ensure the operating principles specified in Article 5 of Circular 01/2015/TT-CA, specifically as follows:

- The Team of Judges dealing with the petition for initiation of bankruptcy proceedings shall consider, discuss collectively, and decide by majority on the matters specified in Clause 1, Article 7 of Circular 01/2015/TT-CA and take responsibility before the law for their assigned tasks and powers.

- The Judges' Group dealing with the request for reconsideration and protest against the decision to open or not open the bankruptcy procedure shall consider, discuss collectively, and decide by majority for the types of work specified in Clause 1, Article 13 of Circular 01/2015/TT-CA and take responsibility before law for the assigned tasks and powers.

- The group of judges dealing with petitions and protests against decisions declaring enterprises or cooperatives bankrupt shall consider, discuss collectively, and decide by majority for the types of work specified in Clause 1, Article 17 of Circular 01/2015/TT-CA and take responsibility before law for the assigned tasks and powers.

- The head of the Judges' Group, on behalf of the Judges' Group, administers and is in charge of the activities of the Judges' Group. The Head of the Judges' Group shall report to the Judges' Group and take responsibility before the Judges' Group and the law for their assigned tasks and powers.

When performing the tasks and powers of the Judges' Group, the Head of the Judges' Group shall sign on behalf of the Judges' Group and affix the Court's seal.

- Members of the Judges' Group shall perform their duties and exercise their powers as assigned by the Head of the Judges' Group. Members of the Judges' Group shall report to and take responsibility before the Judges' Group, the Head of the Judges' Group, and the law for their assigned tasks and powers.

When performing their assigned tasks and powers, members of the Judges' Group shall sign on behalf of the Head of the Judges' Group and affix the court's seal.

- The members of the Judges' Group are responsible for studying the bankruptcy case file and performing other duties and powers of the Judges and the Judges' Teams in accordance with the bankruptcy law.

Thanh Rin

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