Business lines of Vietnam Debt and Asset Trading Corporation

Business lines of Vietnam Debt and Asset Trading Corporation (Internet image)

Regarding this issue, LawNet would like to answer as follows:

1. Business lines of Vietnam Debt and Asset Trading Corporation

Vietnam Debt and Asset Trading Corporation operates according to the business lines specified in Article 6 of Decree 129/2020/ND-CP, in which:

* DATC's main business is in the field of financial services, focusing mainly on the following activities:

- Acceptance of debts and assets, including debts and assets, excluded from the enterprise value when converting ownership of enterprises in which 100% charter capital is held by the State and one-member limited liability companies belonging to enterprises in which 100% charter capital is held by the State, public non-business units according to the regulations of the Government; receivables and assets designated by the Government and the Prime Minister to continue investing, exploiting, handling, and recovering capital for the State according to the provisions of Decree 129/2020/ND-CP.

- Purchase of debts and assets (including land use rights, land-attached assets, and future-formed land-attached assets as collateral for the debt) of organizations and individuals.

- Handling debts and assets purchased and received (including management, investment to exploit, sell, or lease the assets purchased, received, and secured by the debt, including assets assigned to the debt).

- Restructuring enterprises through purchasing and debt settlement activities.

* Main lines of business support:

- Management, investment, exploitation, and handling of real estate projects in the following cases: assets to secure a debt, property received for debt assignment, property purchased or received as designated by the Government or the Prime Minister in accordance with law.

- Consulting on debt, assets, purchases, sales, mergers, and business restructuring.

- Carrying out valuation activities; debt management, and debt collection services on the basis of ensuring all operating conditions as prescribed by law.

(Article 5 of the Charter of organization and operation of Vietnam Debt and Asset Trading Corporation issued together with Circular 42/2021/TT-BTC)

2. Legal form and legal status of Vietnam Debt and Asset Trading Corporation

- Vietnam Debt and Asset Trading Corporation is organized and operates in the form of a one member limited liability company in which 100% of charter capital is held by the State in accordance with the law applicable to enterprises.
and this Charter.

- Vietnam Debt and Asset Trading Corporation has legal status, its own seal, and is allowed to open accounts in Vietnam Dong and foreign currencies at the State Treasury, domestic and foreign commercial banks in accordance with relevant laws.

- Vietnam Debt and Asset Trading Corporation has its own capital and assets, is responsible for the debts and obligations of the company within its charter capital.

(Article 4 of the Charter of organization and operation of Vietnam Debt and Asset Trading Corporation issued together with Circular 42/2021/TT-BTC, amended by Article 1 of Circular 123/2021 /TT-BTC)

3. Charter capital of Vietnam Debt and Asset Trading Corporation

- Charter capital of Vietnam Debt and Asset Trading Corporation is VND 6,000 billion (Six trillion VND).

- The adjustment of the charter capital of Vietnam Debt and Asset Trading Corporation shall comply with the law applicable to enterprises in which 100% of the charter capital is held by the State and this Charter.

- When there is a change in the charter capital, the Vietnam Debt and Asset Trading Corporation must adjust the charter capital in the business registration certificate and disclose information according to regulations.

(Article 6 of the Charter of organization and operation of Vietnam Debt and Asset Trading Corporation issued together with Circular 42/2021/TT-BTC)

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