Ensure that bankruptcy processes and procedures are not overlapping or contradictory.

Discussing at Group 14 (including the National Assembly delegations of Quang Ninh, An Giang, and Ha Tinh provinces) on the morning of October 23, Vice Chairman of the National Assembly Vu Hong Thanh suggested that the implementation of bankruptcy procedures must thoroughly follow the motto of "clear people, clear work, clear time, clear responsibility, clear products, clear authority", ensuring that the organization and implementation process is not overlapping, contradictory, pushy, evasive, and has no legal gaps.

Group 14 meeting scene

Consider renaming the Law

The majority of the National Assembly Deputies of Group 14 agreed to promulgate the draft Bankruptcy Law (amended); stating that, basically, the draft Law has built and completed procedures for business recovery of enterprises and cooperatives; built simplified recovery procedures, simplified bankruptcy procedures for enterprises and cooperatives; applied electronic transactions in resolving recovery and bankruptcy cases...

Vice Chairman of the National Assembly Vu Hong Thanh speaks

Regarding the name of the Law project, National Assembly Delegate Phan Thi Nguyet Thu ( Ha Tinh ) expressed her agreement with changing the name of the Bankruptcy Law project (amended) to the Law on Rehabilitation and Bankruptcy to match the scope of regulation and the addition of the "rehabilitation" regime as an independent procedure from the bankruptcy procedure.

Vice Chairman of the National Assembly Vu Hong Thanh attended meeting of Group 14.

Deputy Prime Minister Le Thanh Long attended meeting of Group 14.

The name change, according to the delegate, not only ensures the correct goal and direction of the Law's construction, which is to encourage and prioritize the recovery of business activities of enterprises and cooperatives right from the moment they are at risk of insolvency, but also contributes to unlocking resources and promoting economic development.

Secretary of the Provincial Party Committee, Head of the National Assembly Delegation of Quang Ninh Province, Head of Group 14 Vu Dai Thang spoke

At the same time, for enterprises operating in the International Financial Center, when specific regulations have not been established, delegate Phan Thi Nguyet Thu proposed that bankruptcy settlement will be carried out by the regional People's Court according to the procedures prescribed in the Law on Rehabilitation and Bankruptcy.

However, National Assembly Deputy Ngo Hoang Ngan (Quang Ninh) said that the name should be kept as Bankruptcy Law, because if the name is changed, it will follow a series of documents as well as be related to the content in the Law, which also requires a name to follow.

National Assembly Delegate Ngo Hoang Ngan (Quang Ninh) speaks

Regarding this issue, Vice Chairman of the National Assembly Vu Hong Thanh suggested that National Assembly deputies continue to give opinions to choose a suitable name, the drafting agency will coordinate with the reviewing agency to report back to the National Assembly Standing Committee to consider necessary handling.

Ensure the right target audience is selected for support.

One of the bottlenecks leading to the stagnation of bankruptcy cases is the issue of advance payment and payment of bankruptcy costs in cases where there is no need to pay advance bankruptcy costs or where the enterprise or cooperative has no more money or assets to pay or where the enterprise or cooperative has assets but cannot sell them to cover bankruptcy costs.

The Supreme People's Court and many agencies agreed to regulate the advance payment of bankruptcy costs, and the source of payment for bankruptcy costs in the above case is guaranteed by the State Budget.

Vice Chairman of the National Assembly Vu Hong Thanh said that it is necessary to clarify all processes, procedures, and sources for arrangement and allocation, in which the procedural order must comply with the provisions of the State Budget Law.

Delegates attending meeting Group 14

The Vice Chairman of the National Assembly pointed out that in the draft Law, there is a new point, which is to build and perfect the rehabilitation procedure, which is an independent procedure carried out before the bankruptcy procedure. This is a very humane regulation to create conditions for enterprises and cooperatives, even adding a boost, with the support of the State, so that enterprises and cooperatives can overcome temporary difficulties and return to normal operations in the economy.

Delegates attending meeting Group 14

However, it is necessary to clarify what constitutes insolvency in order to screen and ensure the correct selection of subjects that need support, and support measures must be feasible to ensure that cooperatives and enterprises can recover.

In case of no support or recovery, there must be a very quick mechanism to handle the situation immediately, not to drag it out, not only for businesses but also for the whole economy. Therefore, it is necessary to create a screening mechanism to create an environment to promote economic development and improve the country's competitiveness.

Delegates attending meeting Group 14

The Vice Chairman of the National Assembly emphasized that the implementation of bankruptcy procedures must thoroughly follow the motto of “six clarifications”. That is “clear people, clear work, clear time, clear responsibility, clear products, clear authority” to ensure that the organization and implementation process is not overlapping, contradictory, pushy, evasive and has no legal gaps.

In practice, delegate Phan Thi Nguyet Thu (Ha Tinh) said that it is very difficult to resolve bankruptcy proceedings for businesses that are no longer able to pay the advance court fees. Without an open mechanism, it is clear that the case cannot be resolved, and the application may even have to be suspended or returned.

National Assembly Delegate Phan Thi Nguyet Thu (Ha Tinh) speaks

Therefore, the delegate believes that it is necessary to regulate the advance payment of bankruptcy costs and the source of payment for bankruptcy costs to ensure that the situation when enterprises and cooperatives run out of money can be resolved. At the same time, the regulation that the advance payment of bankruptcy costs in this case will be immediately returned to the state budget when the assets of the enterprise or cooperative are sold is also guaranteed to be implemented.

Source: https://daibieunhandan.vn/bao-dam-quy-trinh-thu-tuc-pha-san-khong-bi-chong-cheo-mau-thuan-10392587.html