Assignment of drafting of detailed regulations for the implementation of 2 Laws

Deputy Prime Minister Ho Quoc Dung signed Decision No. 163/QD-TTg assigning the lead agency to draft detailed regulations for the implementation of the Law on Bankruptcy and Recovery and to organize the implementation of the Law on Specialized Courts at the International Finance Centre. These are two laws passed by the 15th National Assembly at its 10th session.

Regarding the Law on Bankruptcy and Recovery, the Deputy Prime Minister assigned the Ministry of Justice to take the lead, in coordination with the Supreme People's Court and relevant ministries and agencies, in drafting a Decree detailing some provisions and measures for implementing the Law on Bankruptcy and Recovery concerning bankruptcy administrators and the practice of managing and liquidating assets (Clause 2, Article 9, Article 21) and a Decree detailing some provisions and measures for implementing the Law on Bankruptcy and Recovery concerning the enforcement of decisions declaring enterprises and cooperatives bankrupt (Articles 76, 77).

The State Bank of Vietnam , in coordination with the Supreme People's Court and relevant ministries and agencies, drafted a Decree detailing certain provisions of the Law on Bankruptcy and Recovery regarding the handling of secured assets of enterprises and cooperatives, favorable settlement or offsetting, temporary suspension or suspension of the performance of valid contracts, and offsetting obligations in cases where the law provides otherwise (Clause 2, Article 27; Clause 3, Article 40; Point c, Clause 1, Article 49; Clause 1, Article 53).

The Ministry of Finance , in coordination with the Supreme People's Court and relevant ministries and agencies, drafted a Decree detailing certain provisions of the Law on Bankruptcy and Rehabilitation regarding the change of the legal representative of state-owned enterprises after the court accepts the application for rehabilitation procedures; the operation and supervision of enterprises and cooperatives after a decision to open bankruptcy proceedings (Articles 30, 40, and Clause 5 of Article 42).

These documents must be submitted to the Government before February 15, 2026. The Deputy Prime Minister has authorized the application of a simplified procedure for these documents.

Ministries and ministerial-level agencies shall organize the drafting of detailed regulations ensuring the quality and timely issuance of detailed regulations that take effect simultaneously with the Law or the assigned detailed regulations; proactively review, develop, and issue, within their authority, or submit to competent authorities for issuance, documents to amend, supplement, replace, or repeal relevant legal documents; publish all or part of detailed regulations and specific measures to organize and guide the implementation of legal documents that continue to be in effect as prescribed in Clause 2, Article 57 of Law No. 64/2025/QH15 on the Promulgation of Legal Documents, amended and supplemented by Law No. 87/2025/QH15, to ensure timely and effective implementation of the Law on Bankruptcy and Recovery.

Regarding the Law on Specialized Courts in International Financial Centers, the Deputy Prime Minister requested the Ministry of Justice to coordinate with the Supreme People's Court and relevant ministries and agencies to organize the implementation of the Law on Specialized Courts in International Financial Centers; based on practical implementation and state management requirements, proactively research, report, and propose to the Government for consideration the development and promulgation of detailed regulations and guidelines for the implementation of the Law on Specialized Courts in International Financial Centers in cases where the content falls under the Government's authority.

*The Law on Business Rehabilitation and Bankruptcy No. 142/2025/QH15 takes effect from March 1, 2026. The Law comprises 8 chapters with 88 articles regulating the principles, procedures, and processes for resolving business rehabilitation and bankruptcy cases, as well as those of cooperatives and cooperative unions; the duties and powers of those conducting rehabilitation and bankruptcy procedures; and the rights and obligations of those participating in rehabilitation and bankruptcy procedures.

Law No. 150/2025/QH15 on Specialized Courts in International Financial Centers will come into effect on January 1, 2026. The law comprises 5 chapters and 44 articles, regulating the duties and powers; organizational structure; jurisdiction, procedures, and litigation processes; enforcement of judgments and decisions; judges, court clerks, and representatives of the parties; and ensuring the operation of specialized courts in international financial centers.

Source: https://baotintuc.vn/thoi-su/phan-cong-soan-thao-van-ban-quy-dinh-chi-tiet-thi-hanh-2-luat-20260126204950197.htm