Main duties and practical skills:
- The Judge (of the Judges’ Team) shall issue the decision to declare the enterprise or cooperative bankrupt in the following circumstances: When issuing the decision to suspend liquidation procedures; The enterprise or cooperative does not have money or assets to pay bankruptcy fees; The enterprise or cooperative does not have enough money or assets to pay bankruptcy fees.
- Along with issuing the decision to suspend liquidation procedures, the Judge must issue a decision to declare the enterprise or cooperative bankrupt.
- The decision to declare the enterprise or cooperative bankrupt must be in accordance with Form 08 promulgated with Resolution No. 03/2005.
- When issuing the decision to declare the enterprise or cooperative bankrupt, the Judge must consider responsibilities of the persons in the enterprise or cooperative, as provided in Article 94 of the Bankruptcy Law; Depending on responsibilities of each person, the Judge shall issue a decision on prohibition within a proper time limit. Before issuing the decision on prohibition, the Judge should discuss with the governing body, superior body, business registration office, etc. in order to have a proper decision.
- Decision to declare the enterprise or cooperative bankrupt must be sent to relevant persons and posted on a newspaper, as provided in Article 29 of the Bankruptcy Law 2005.
- Decision to declare the enterprise or cooperative bankrupt must be sent to the business registration office for it to remove the name of the enterprise or cooperative which has been declared bankrupt in the business registration book.
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