Chương 3 Nghị định 114/2008/NĐ-CP: Nghĩa vụ về tài sản và các biện pháp bảo toàn tài sản

Chapter III.

ASSET-RELATED OBLIGATIONS AND MEASURES TO PRESERVE ASSETS

Article 13. Determination of asset-related obligations, handling of debts, and return of assets to the State

The determination of asset-related obligations, handling of undue debts or debts guaranteed with mortgaged or pledged assets, and return of assets to the State comply with Articles 33 thru 36 of the Bankruptcy Law.

Article 14. Order of distributing assets

After the fulfillment of asset-related obligations under Article 13 of this Decree, the value of assets of insurance, securities and other financial enterprises shall be distributed in the order specified in Article 37 of the Bankruptcy Law.

Article 15. Transactions regarded as invalid

1. Transactions regarded as invalid are specified in Article 43 of the Bankruptcy Law, except the case specified in Clause 2 of this Article.

2. If, within three months before the court processes written requests for opening of bankruptcy procedures, insurance, securities and other financial enterprises apply measures to restore solvency, the payment of undue debts, mortgage or pledge of assets for debts, payment of deposits on clients’ securities accounts, clearing and payment of securities transactions are not subject to regulations on invalid transactions.

3. Unsecured creditors and asset management and liquidation teams may request the court to declare transactions to be invalid under Article 44 of the Bankruptcy Law.