Chương VII Nghị định 189-CP: Về việc thực hiện hoà giải và giải pháp tổ chức lại hoạt động kinh doanh của doanh nghiệp

VII. ON THE REALIZATION OF RECONCILIATION AND THE SOLUTION TO THE REORGANIZATION OF THE BUSINESS ACTIVITIES OF THE BUSINESS

Article 13.- The reconciliation plan and the solution of reorganizing the business activities of the business stipulated at Article 20 of the Law on Business Bankruptcy comprise the following main contents:

1. Proposal for debt deferment, debt reduction, debt annulment, debt transfer, debt guarantee and other measures aimed at overcoming the insolvency of the business, commitment of the business on the term, amount and modalities of payment of due debts.

2. The measures to reorganize the business operations of the business include financial measures, reorganization of the apparatuses, reorganization of labor, improvement of management, perfecting and renewal of technology and other necessary masseurs aimed at overcoming the insolvency of the business. Each measure must specify the concrete term and plan of implementation.

3. The plan of reconciliation and the solution of reorganization of the business operations mentioned at Item 1 and Item 2 of this Article must be done in writing and bear the signature of the legal representative of the business, the owner of private business, or the owner of the business with 100% of foreign investment which have no managerial board.

Article 14.- During the process of realization of the reconciliation plan and the measures of reorganizing the business operations, the debtor business has the responsibility to:

1. Carry out the reconciliation program and the measures of reorganizing the operations of the business according to the committed schedule and plan;

2. To make periodical or emergency reports at the request of the Judge in charge of settling the request for declaration of business bankruptcy (hereafter referred to as Judge) and the creditor on the situation and the result of the implementation of the reconciliation program and the solution of reorganizing the operation of the business;

3. Propose the Court to declare bankruptcy if it is deemed that the reconciliation program and the solution of reorganizing the operations of the business are irrealizable.