Accordingly, court shall apply reduced procedures to a dispute over obligation to transfer collateral or dispute over right to sell collateral associated with NPL if it meets conditions as prescribed in Clause 1 Article 8 of Resolution No. 42/2017/QH14 and guidelines provided in this Resolution.
Form and content of a lawsuit petition are regulated in Clauses 1, 2, 3 and 4 Article 189 of the Civil Procedure Code, Form No. 23-DS issued together with Resolution No. 01/2017/NQ-HDTP and the guidelines provided in Article 6 of this Resolution.
Especially, according to Article 7 of this Resolution, The purchaser of a NPL or a debt incurred from a NPL of a bank shall assume litigation rights and obligations from the seller.
In the event that a collateral associated with NPL is an asset of enterprise against which a request for initiation of its bankruptcy process is accepted by a court and during such a process, the bank or bad debt purchaser is not entitled to seize the collateral. The seizure of collateral in such circumstance shall be done in accordance with the Law on Bankruptcy.
However, in the event that a collateral associated with NPL is an asset of a third party but the secured party is an enterprise against which a request for initiation of its bankruptcy process is accepted by a court and during such a process, the bank or bad debt purchaser is entitled to seize the collateral and take actions as per the law or requests the competent court to settle it during the bankruptcy process as per the law.
This Resolution comes into force from July 1st, 2018 to expiry date of Resolution No. 42/2017/QH14 dated June 21st, 2017.
The parties may reach agreement on dispute resolution through mediation before or after a dispute arises or at any time in the process of dispute resolution. However, mediation agreement shall be established in writing, in the form of a mediation clause in a contract or of a separate agreement.
The mediation order and procedures, commercial mediators, and venue and time for mediation shall be selected by the parties themselves. In which, commercial mediator(s) is/are selected from the list of commercial mediators of a commercial mediation institution or from the list of ad hoc commercial mediators publicized by the provincial-level Department of Justice.
A written record of successful mediation result shall be recognized in accordance with the civil procedure law. . If unable to attain a successful mediation result, involved parties may either continue the mediation or request an arbitration or a court to resolve their dispute in accordance with law.
With regard to a branch of a commercial arbitration center, the charge for verification of conditions for operation is reduced from VND 1,500,000 to VND 1,000,000 and the charge for verification of conditions for amendment to the registration of operation is reduced from VND 1,000,000 to VND 500,000. The branch shall be also exempt from charge for verification for reissuance of the license for operation.
For Vietnam-based branch of a foreign arbitration center, the charge for verification of criteria and conditions for establishment is reduced from VND 6,500,000 to VND 6,000,000 and it shall not pay charges for verification upon the application for reissuance of the license for establishment, the license for operation.
This Circular takes effect from January 1st, 2017 and replaces Circular No. 42/2013/TT-BTC dated April 11th, 2013.
There are 3 criteria for selecting precedents (Article 2):
1. Containing arguments to clarify the provisions of the law which have differing interpretations, analyze and explain legal issues or events, and legal principles and guidelines to be followed in a specific situation;
2. Having normative value;
3. Ensuring the consistency of law in adjudication and the same settlement results from the two cases having the same facts or events.
Each precedent shall be studied and adopted in adjudication after 45 days from the date on which it is published or written in the decision on precedent publication issued by the Chief Justice of the Supreme People’s Court (Article 8)
This Decree takes effect from December 16th, 2015.
Accordingly, professional regulation applicable to judicial expertise activities in the field of planning and investment includes standards of investment appraisal, bidding, enterprise/cooperative registration and other standards in the field of planning and investment.
The expertise of a field not prescribed in any regulation shall be based on legislative documents providing for such field of expertise.
This Decree takes effect from December 15th, 2015.