Chương III Nghị định 189-CP: Về việc thi hành luật phá sản doanh nghiiệp đối với các doanh nghiệp trực tiếp phục vụ quốc phòng, an ninh và dịch vụ công cộng quan trọng

III. ON THE IMPLEMENTATION OF THE ENACTMENT OF THE LAW ON BUSINESS BANKRUPTCY AT THE BUSINESSES DIRECTLY CATERING FOR NATIONAL DEFENSE AND SECURITY AND THE IMPORTANT PUBLIC UTILITY SERVICES.

Article 4.-

1. The businesses eligible for recognition as directly servicing defense and security or important public utility services must operate in the following domains and branches:

a/ Manufacturing or repairing weapons, equipment and special-purpose facilities for national defense and security, and the businesses which combine economy with defense in the important strategic areas;

b/ Engaged in financial, monetary and insurance businesses;

c/ Producing and supply of electricity;

d/ Urban communications and public works;

e/ Rail and air transport;

f/ Telecommunications;

g/ Management and exploitation of water conservancy works;

h/ Management and building of special-purpose forests and key national forest preserves.

2. The Minister of the controlling ministry, upon receiving the written consent of the Minister-Chairman of the State Planning Committee and the Minister of Finance, shall draw up and make public the list of the names of the businesses stipulated at Item 1 of this Article.

Article 5.-

1. In the event that a business defined at Article 4 of this Decree falls into the situation of insolvency, its legal representative shall have to immediately send a written report to the agency which has issued the decision to found the business. The report must clearly state the reasons, the real financial situation and the measures already taken to overcome insolvency.

2. Within fifteen (15) days after receipt of the report, the Head of the agency which has issued the decision to found the business shall consider and study the report and decide the necessary measures to restore the capability of the business to pay the due debts.

3. In case the measures for restoring the capability of the business of paying its debts are beyond its means, the Head of the agency which has issued the decision to found the business must report to the Prime Minister for consideration and adoption of measures to support or not to support the business.

Article 6.-

1. The Court shall issue the decision to open procedures for settling the request of declaration of bankruptcy of a business directly servicing national defense and security or an important public utility service mentioned at Article 4 of this Decree only after receipt of the official dispatch of the Prime Minister or the Head of the State agency which has issued the decision to found the business on the non-resort to necessary measures to restore the capability of the business to pay the due debts.

2. After the Court has received the request for declaration of bankruptcy, the procedures to settle the bankruptcy of a business directly servicing defense and security or an important public utility service shall be undertaken as prescribed by the Law on Business Bankruptcy, this Decree and other legal documents related to the settlement of business bankruptcy.