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.

Scenes from the meeting of Group 14.

Consider renaming the Law.

The majority of National Assembly deputies from Group 14 approved the promulgation of the amended Bankruptcy Law; they believed that, fundamentally, the draft law has established and perfected procedures for the recovery of business operations of enterprises and cooperatives; developed simplified recovery procedures and simplified bankruptcy procedures for enterprises and cooperatives; and applied electronic transactions in resolving recovery and bankruptcy cases...

Vice Chairman of the National Assembly Vu Hong Thanh speaks

Regarding the name of the draft law, National Assembly Deputy Phan Thi Nguyet Thu ( Ha Tinh ) expressed agreement with changing the name of the draft Bankruptcy Law (amended) to the Bankruptcy and Recovery Law to better reflect its scope and the addition of the "recovery" provision as a procedure independent of 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.

According to the delegates, the renaming not only ensures that the Law's objectives and direction—which are to encourage and prioritize the recovery of business operations of enterprises and cooperatives from the moment they face the risk of insolvency—are met, 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 businesses operating in international financial centers, where specific regulations have not yet been established, Representative Phan Thi Nguyet Thu suggested that bankruptcy proceedings should be handled by the regional People's Courts according to the procedures stipulated in the Law on Bankruptcy and Rehabilitation.

However, National Assembly Deputy Ngo Hoang Ngan (Quang Ninh) argued that the name should remain as the Bankruptcy Law, because changing the name would tie it to a series of related documents and would require a corresponding name for any content within the Law.

National Assembly Deputy Ngo Hoang Ngan (Quang Ninh) delivered a speech.

Regarding this matter, Vice Chairman of the National Assembly Vu Hong Thanh suggested that National Assembly deputies continue to provide feedback to select a suitable name. The drafting agency will coordinate with the reviewing agency to report back to the Standing Committee of the National Assembly for consideration of necessary handling.

Ensure that the right people who need support are selected.

One of the bottlenecks leading to the stagnation of bankruptcy proceedings is the issue of advance payment of bankruptcy costs in cases where advance payment is not required, or when the enterprise or cooperative no longer has the money or assets to pay, or when the enterprise or cooperative has assets but cannot sell them to secure bankruptcy costs.

The Supreme People's Court and many other agencies have agreed on regulations regarding the advance payment of bankruptcy costs, with the State Budget guaranteeing the payment of these costs in such cases.

Deputy Speaker of the National Assembly Vu Hong Thanh stated that all processes, procedures, and sources for arrangement and allocation need to be clarified, and that the procedures must comply with the provisions of the State Budget Law.

Delegates attending meeting Group 14

The Vice Chairman of the National Assembly stated that the draft law includes a new point: the development and improvement of recovery procedures as independent procedures to be carried out before bankruptcy proceedings. This is a very humane provision to create favorable conditions for businesses and cooperatives, even providing an additional boost with state support to help them overcome temporary difficulties and return to normal operation in the economy.

Delegates attending meeting Group 14

However, it is necessary to clarify what constitutes insolvency in order to screen and ensure that the right individuals and entities requiring support are selected, and that the support measures are feasible to ensure that cooperatives and businesses can recover.

In cases where support or recovery is impossible, there must be a very rapid mechanism to handle the situation urgently, rather than allowing delays and procrastination, which would not only affect businesses but also the entire economy. Therefore, a screening mechanism needs to be created to foster an environment that promotes economic development and enhances the nation's competitiveness.

Delegates attending meeting Group 14

The Vice Chairman of the National Assembly emphasized that the implementation of bankruptcy procedures must adhere to the principle of "six clear points." These are: "Clear person, clear matter, clear time, clear responsibility, clear product, clear authority," in order to ensure that the organizational and implementation process is free from overlap, conflict, shirking, avoidance, and legal loopholes.

Based on practical experience, delegate Phan Thi Nguyet Thu (Ha Tinh) stated that resolving bankruptcy procedures for businesses that are no longer able to pay advance court fees is very difficult. Without a flexible mechanism, it is clear that the case cannot be resolved, and may even have to be suspended or the application returned.

National Assembly Deputy Phan Thị Nguyệt Thu (Hà Tĩnh) delivered a speech.

Therefore, delegates argued that regulations on advancing bankruptcy costs and the source of payment for these costs are necessary to ensure that situations where businesses and cooperatives run out of money are resolved. At the same time, regulations stipulating that the advanced bankruptcy costs in such cases will be immediately reimbursed to the state budget upon the sale of the business's or cooperative's assets also ensure implementation.

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