2014년 베트남 파산법의 구조와 법적 쟁점

Current Vietnames law on bankruptcy(No. 51/2014/QH13) was passed by the National Assembly and has taked effect on January 1, 2015(the '2014 Law on Bankruptcy'). The 2014 Law on Bankruptcy contains various substantive changes compared to the 2004 Law on Bankruptcy. An enterprise or co-operative is considered 'insolvent' if it fails to perform an obligation to repay a debt within 3 months from the due date. Under the 2004 Law on Bankruptcy, a provincial court has jurisdiction over the bankruptcy proceedings of all enterprises registered for business at the business registration office of the respective province. But under the 2014 Law on Bankruptcy, a district courts are to have jurisdiction over bankruptcy cases of enterprises that have headquarters in the district. Provincial courts only deal with complicated cases or cases that involve special elements. The 2014 Bankruptcy Law introduces new concepts of 'asset management officers' and 'asset management and liquidation firms'. and there are provisions on bankruptcy procedure of financial institutions. The bankruptcy procedures under the 2014 Bankruptcy Law consists of Filing bankruptcy petition, Commencement of bankruptcy proceedings(unless the petition is withdrawn), Appointment of asset management officer or asset management and liquidation firms, Creation of creditors' list, Creditors' meeting, Rehabilitation or bankruptcy and liquidation of assets.