IX. ON THE ORGANIZATION AND OPERATION OF THE PROPERTY MANAGEMENT TEAM
Article 17.- Before issuing the decision to open the procedures to settle the request for declaration of bankruptcy of the business, the President of the Economic Tribunal of the People’s Court at the provincial level shall request the concerned agencies to appoint persons who are qualified and who are economically and legally independent from the creditors and the debtor business to join the Property Management Team.
The Property management Team shall comprise:
a/ An official of the Economic Tribunal of the People’s Court at provincial level appointed by the President of the Economic Tribunal of the People s Court at provincial level, Head of the Team.
b/ An executive member of the Lawsuit Enforcement Section to be appointed by the Head of the Section of the Justice Service.
c/ The creditor who has the largest credit at the business; in case there are many creditors with the same amount of credit at the business, the President of the Economic Tribunal of the People’s Court at provincial shall appoint a creditor until the debtors conference appoint their representative.
d/ A representative of the debtor business appointed by the legal representative of the business, the owner of the private business or the owner of a business with 100% of foreign investment where there is no managerial board;
e/ A representative of the trade union at the business;
f/ A representative of the Finance Service appointed by the Director of the Finance Service;
g/ A representative of the State bank at provincial level appointed by the Director of the bank;
2. Depending on each concrete case, the President of the Economic Tribunal of the People’s Court at provincial level may invite a number of experts to take part in the Property Management Team.
3. One person may be appointed to take p art in three teams at most. The appointee may refuse the appointment if he can cite a plausible reason.
4. The Property Management Team works under the direction of the team Head and the supervision of the Judge.
Article 18.- The debtors conference is entitled to choose its own representative to take part in the Property management Team in the place of the person appointed by the President of the Economic Tribunal. The latter may refuse to accept this choice of the debtors conference if he can cite a plausible reason. In this case, 15 (fifteen) days at the latest after receipt of the notice of non-acceptance from the President of the Economic Tribunal, the debtors conference must choose another representative.
The President of the People’s Court at the provincial level has the final say on all complaints and protests related to the choice of the representative of the debtors to take part in the Property Management Team.
Article 19.-
1. The Property Management Team has the duty to supervise and control the operation of the business right from the moment it is decided to open procedures to settle the request for declaration of bankruptcy till the moment bankruptcy is declared Concretely speaking:
a/ To supervise and control the implementation of the stipulations at Item 2 of Article 18 and Article 23 of the Law on Business Bankruptcy;
b/ To control and supervise the signing and implementation of the contracts signed by the business;
c/ To supervise and control the marketing of products of the business.
2. The Head of the Property Management Team is entitled to ask the Judge to issue a decision compelling the business to carry out or not to carry out a number of acts aimed at preserving the property of the business.
Article 20.- Within 15 (fifteen) days after the expiry of the time-limit for sending the debt claiming notice, the Property Management Team must complete drawing up the inventory of the whole property, the property balance sheet and the list of the creditors and the list of the debtors of the business.
1. The inventory of property and the property balance sheet must specify each type of property. If the property is in kind, the object must be named, have a description of its state and must be priced.
2. The list of the creditors and the list of the debtors must include the following main points:
a/ Names and addresses of the creditors and the debtors of the business;
b/ The amount of debt owed to each creditor and of each debtor owed to the business. These must be specified whether it is a guaranteed, partly guaranteed or unguaranteed debt, whether it is a due or undue debt. With regard to the list of the debtors of the business, there must be specified whether these are recoverable or unrecoverable debts.
Article 21.-
1. The Property Management Team shall have to post up the list of creditors and the list of the debtors of the business at the office and the branch offices of the business and the office of the Court in charge of settling the bankruptcy of businesses;
2. 10 (ten) days after the posting up, the Property management Team has the duty to modify or complement the lists the creditors and debtors according to the decision of the Judge and close these lists.
Article 22.- After drawing up the inventory of properties stated at Article 20 of this Decree, the Property Management Team shall compare the existing property with the total debt the business is due to pay, and draw up the plan to divide the property as well as the plan for debt payment for the Judge to consider and decide.
Article 23.- From the moment the Court issues the decision to declare bankruptcy, the business shall lose the right to manage the property. The Property Management Team shall take over the preservation of the property of the business until completion of the hand over to the Property Liquidation Team.
Article 24.- 5 (five) days at the latest after the issue of the decision to found the property Liquidation Team, the Property Management Team shall have to hand over the whole property, documents and papers under its management to the Property Liquidation Team.
Article 25.- The Head and members of the Property Management Team are liable to disciplinary actions or shall be investigated for penal liability, depending on the character and extent of the violations if they commit the following violations, and shall have to pay compensations if they cause material damage:
1. Drawing up the property inventory which does not correspond with reality;
2. Drawing up the lists of creditors and debtors not compatible with reality.
3. Failing to carry out or carry out inadequately its duty of supervising and controlling the management of the property of the business.
4. Causing losses of property to the debtor business.
Tìm kiếm
Nghị định 189-CP (Bản Word)