Regulations on Bankruptcy Cases of a Complex Nature

16:47, 11/07/2024

Resolution 03/2016/NQ-HDTP issued by the Council of Judges of the Supreme People's Court guiding the implementation of certain provisions of the Bankruptcy Law.

Cases of bankruptcy with complex nature according to Bankruptcy Law are understood as:

- Cases not falling into one of the categories stipulated in Points a, b, c, Clause 1, Article 8 of the Bankruptcy Law, and;- Enterprises (DN), cooperatives (HTX) required to open bankruptcy procedures fall into one of the following cases:- Having ≥ 300 employees or charter capital > 100,000,000,000 VND (one hundred billion VND);- Credit institutions; enterprises (DN), cooperatives (HTX) providing public utility products, services; defense, security enterprises according to legal regulations;- Economic groups, state-owned corporations; enterprises with foreign investment capital;- Having debts guaranteed by the State/ relating to the implementation of international treaties to which the Socialist Republic of Vietnam is a member, investment agreements with foreign agencies, organizations;- Having transactions requested to be declared null and void under Article 59 of the Bankruptcy Law.

Resolution 03/2016/NQ-HDTP takes effect from September 16, 2016.

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