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Bankruptcy Process of Foreign Companies in Vietnam
Update: 23/2/2017 | 10:38:59 AM - Dragon Law Firm
Law firm in Hanoi with best legal services would like to support local and foreign Clients.
Dragon Law, legal office in Vietnam, provides some provisions on bankruptcy process relating ti foreign companies in Vietnam.
Under Law on Bankruptcy 2014:
Article 116. Foreigners involved in bankruptcy process:
Any foreigner involved in the bankruptcy process must comply with the regulations of the Law on Bankruptcy of Vietnam.
Article 117. Judicial delegation of Vietnam People’s Court to foreign competent authorities:
1. The People’s Court shall implement the judicial delegation according to the judicial assistance treaty to which the Socialist Republic of Vietnam is a State Party or the principle of reciprocity during any bankruptcy settlement involving foreign entities.
2. The procedures for the judicial delegation must comply with the regulations of the law on civil procedure and the law on judicial assistance.
Article 118. Procedures for recognition and authorization to implement Decisions on bankruptcy settlement of foreign Courts:
The recognition and authorization to implement the Decisions on bankruptcy settlement must comply with the regulations on the judicial assistance treaty to which the Socialist Republic of Vietnam is a State Party and other regulations of the law on judicial assistance.
Any questions about foreign investment companies in Vietnam, please feel free contact to legal firm in Hanoi, Dragon Law, for more support.
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