Procedures for the Hearing to Resolve the requests for reconsidering and appeals against Decisions on initiation of bankruptcy process or Decision on refusal to initiate bankruptcy process in Vietnam

Procedures for the Hearing to Resolve the requests for reconsidering and appeals against Decisions on initiation of bankruptcy process or Decision on refusal to initiate bankruptcy process in Vietnam (Image from Internet)

1. Procedures for the Hearing to Resolve the requests for reconsidering and appeals against Decisions on initiation of bankruptcy process or Decision on refusal to initiate bankruptcy process in Vietnam

Procedures for the Hearing to Resolve the requests for reconsidering and appeals against Decisions on initiation of bankruptcy process or Decision on refusal to initiate bankruptcy process in Vietnam according to Article 14 of Circular 01/2015/TT-CA are as follows:

- The Head of the Judges Panel must organize a hearing to resolve the request for reconsideration, appeal against the decision to initiate or not initiate bankruptcy proceedings within the time limit prescribed in Clause 5, Article 44 of the Bankruptcy Law 2014. The hearing of the Judges Panel must have all members present; if any member is absent, the hearing must be postponed.

- The Head of the Judges Panel opens and chairs the hearing. The court clerk records the minutes of the hearing.

- A member of the Judges Panel presents a summary of the bankruptcy case, the process of resolving the bankruptcy case, and the request for reconsideration (if any). The procurator expresses the opinion of the People's Procuracy regarding the appeal decision if the People's Procuracy raised an appeal.

- If there are participants in the bankruptcy proceedings summoned by the court to attend the hearing, they have the right to express their opinions on the request for reconsideration of the decision to initiate or not initiate bankruptcy proceedings and the appeal decision against the decision to initiate or not initiate bankruptcy proceedings.

- The procurator expresses the opinion of the People’s Procuracy on the request for reconsideration and appeal against the decision to initiate or not initiate bankruptcy proceedings.

- The Judges Panel discusses and votes in a closed session regarding the resolution of the request for reconsideration and appeal against the decision to initiate or not initiate bankruptcy proceedings. The discussion and voting in a closed session must be recorded in minutes, including discussed opinions and the decision of the Judges Panel. The minutes of the Judges Panel's hearing must be signed by all members of the Judges Panel and the court clerk, with their full names clearly indicated. Any member of the Judges Panel who has a minority opinion has the right to present their opinion in a separate document or record it in the hearing minutes.

In the case of many complex details making an immediate decision difficult, the Judges Panel can extend the discussion and voting period but not exceed 5 working days from the opening of the hearing.

- The decision of the Judges Panel must be approved by the majority of the members. This decision must be made in writing, signed by the Head of the Judges Panel on behalf of the panel, and sealed by the court.

2. Duties and Powers of the Head of the Judges Panel to Resolve the requests for reconsidering and appeals against Decisions on initiation of bankruptcy process or Decision on refusal to initiate bankruptcy process in Vietnam

The duties and powers of the Head of the Judges Panel to resolve the requests for reconsidering and appeals against Decisions on initiation of bankruptcy process or Decision on refusal to initiate bankruptcy process in Vietnam according to Article 15 of Circular 01/2015/TT-CA are as follows:

- The following duties and powers of the Judges Panel are performed by the Head of the Judges Panel on behalf of the panel:

+ Receive the bankruptcy case file along with the request for reconsideration and appeal against the decision to initiate or not initiate bankruptcy proceedings;

+ Verify and collect documents and evidence related to the resolution of the request for reconsideration or appeal against the decision to initiate or not initiate bankruptcy proceedings if necessary;

+ Send additional documents and evidence to the People's Procuracy at the same level;

+ Organize the study of the bankruptcy case file, the request for reconsideration, and the appeal against the decision to initiate or not initiate bankruptcy proceedings;

+ Decide to open a hearing to consider and resolve the request for reconsideration and appeal against the decision to initiate or not initiate bankruptcy proceedings;

+ Send the decision of the Judges Panel as prescribed in Clause 7, Article 44 of the Bankruptcy Law 2014 to the People's Procuracy at the same level, the applicant, the enterprise, and the cooperative that is requested to open bankruptcy proceedings;

+ Perform other duties and powers to resolve the request for reconsideration or appeal against the decision to initiate or not initiate bankruptcy proceedings according to the provisions of bankruptcy law.

- Members of the Judges Panel shall perform the duties and powers prescribed in Clause 1, Article 15 of Circular 01/2015/TT-CA as assigned in writing by the Head of the Judges Panel.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE