Chapter IV
ASSET-PRESERVING MEASURES
Article 27. Transactions considered invalid
1. Transactions are considered invalid under Article 43 of the Bankruptcy Law, except for the case specified in Clause 2 of this Article.
2. If during three months before the Court receives an application for opening of bankruptcy procedures, the credit institution is placed under special control by the State Bank of Vietnam, is applied solvency-restoring measures or receives financial supports from Vietnam Deposit Insurance, the payment of immature debts, mortgage or pledge of assets for debts, payment of deposits and inter-bank clearing payment under the control of the Vietnam State Bank are not governed by regulations on invalid transactions.
3. Creditors of unsecured debts and the asset management and liquidation team have the right to request a Court to declare transactions invalid under Article 44 of the Bankruptcy Law.
Article 28. Termination of performance of valid contracts
Termination of the performance of valid contracts complies with Articles 45, 46 and 47 of the Bankruptcy Law.
Article 29. Obligation clearing
Obligation clearing complies with Article 48 of the Bankruptcy Law.
Article 30. Assets of credit institutions falling into bankruptcy
Assets of credit institutions falling into bankruptcy shall be identified under Article 49 of the Bankruptcy Law.
Assets disposed of under Article 24 of this Decree shall not be regarded as those of credit institutions.
Article 31. Inventory of assets of credit institutions falling into bankruptcy
1. Assets of credit institutions shall be inventoried under Article 50 of the Bankruptcy Law.
2. The asset inventory table of a credit institution must indicate assets of the credit institution, assets consigned or trusted by clients at the credit institution and mortgaged and pledged assets of clients.
3. After inventorying assets, the asset management and liquidation team shall return assets trusted at the credit institution to clients on the basis of their title deeds before dividing other assets according to bankruptcy procedures.
Article 32. Sending of debt-reclaiming papers, making and posting of lists of creditors and debtors
1. The sending of debt-reclaiming papers and making of lists of creditors and debtors comply with Clause 1. Article 51; Clause 1, Article 52; and Clause 1, Article 53, of the Bankruptcy Law.
2. Lists of creditors and debtors shall be publicly posted at the head office of the court carrying out bankruptcy procedures and at the head office and branch of the credit institution falling into bankruptcy. Complaints related to these lists shall be settled under Clauses 2 and 3, Article 52 and Clauses 2 and 3, Article 53 of the Bankruptcy Law.
Article 33. Registration of secured transactions of credit institutions falling into bankruptcy
Secured transactions of credit institutions falling into bankruptcy shall be registered under Article 54 of the Bankruptcy Law.
Article 34. Application of provisional urgent measures
1. Provisional urgent measures shall be applied under Article 55 of the Bankruptcy Law.
2. Persons to whom provisional urgent measures arc applied may lodge complaints under Article 56 of the Bankruptcy Law.
Article 35. Termination of enforcement of civil judgments or settlement of cases
Enforcement of civil judgments or settlement of cases shall be terminated under Article 57 of the Bankruptcy Law.
Article 36. Settlement of court cases terminated in bankruptcy procedures
Court cases terminated in bankruptcy procedures shall be settled under Article 58 of the Bankruptcy Law.
Article 37. Obligations of banks with which credit institutions falling into bankruptcy have accounts
The obligations of banks with which credit institutions falling into bankruptcy have accounts comply with Article 59 of the Bankruptcy Law.
Article 38. Obligations of employees
The obligations of employees of a credit institution falling into bankruptcy comply with Article 60 of ihe Bankruptcy Law.
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