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The Supreme People's Court of Vietnam: Benchbook Online

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9. Accepting the petition for commencement of bankruptcy procedures


Related legal documents
  • Bankruptcy Law (Articles 22, 23, 24, 26, and 27)
  • Resolution No. 03/2005/NQ-HDTP dated 28 April 2005 of the SPCJC providing guidelines for implementation of a number of provisions of the Bankruptcy Law 2005 (hereinafter referred to as Resolution No. 03/2005) (Section 2 of Part II)

  • Main duties and practical skills:

    The Judge must consider and follow conditions of accepting the petition, time limit for accepting the petition, and conduct necessary tasks upon acceptance of the petition.

    • Date of acceptance as from the date when the petition is received where employees file the petition.
    • Date of acceptance as from the date when the receipt of advance payment of bankruptcy fees is received.
    • Where the petitioner is obliged to pay in advance the bankruptcy fees but does not have money pay, date of acceptance shall be calculated as from the date when procedure for advance payment by the State budget is completed.
    • The Judge must issue the petitioner with a written notification of acceptance of the petition.
    • After accepting the petition for commencement of bankruptcy procedures, if the petitioner is a creditor or employee, the Judge shall consider the petition and notify in writing to the enterprise or cooperative who has become insolvent. The contents of the notification include: the Court has accepted the petition, requirements for the enterprise or cooperative (providing documents in accordance with Article 15 and Article 27 of the Bankruptcy Law 2005).
    • Notifying in writing to the judgment enforcement body and requesting this body to issue a decision on temporary suspension of judgment enforcement; notifying to the Court which has accepted  the case in relation to the enterprise or cooperative of the decision on temporary suspension of the case; if the case is being resolved by the Judge’s Court, the Judge shall issue a decision on temporary suspension of the case.
    • Considering the temporary suspension or accepting the resolution of security assets, as provided in Section 2 of Part II of Resolution No. 03/2005.