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The Supreme People's Court of Vietnam: Benchbook Online

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5. Determining whether an enterprise or cooperative has become insolvent or not


Related legal documents
  • Bankruptcy Law (Article 3)
  • 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 I)
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    Main duties and practical skills:

    In order to determine whether an enterprise or cooperative has become insolvent or not, the Judge must consider the following issues

    • Having outstanding debts.
    • Being unable to pay due debts on demand by a creditor.
    • Having made a written document to ask for a delay in paying the debts but the creditor does not accept or give a written response.
    • Having not considered the reason for not paying the debts or the expiry of the time limit for paying the debts.
    • Having not requested how much the unpayable debt is.
    • Having not requested how many creditors there must be.