On the afternoon of September 12, continuing the 49th Session, the National Assembly Standing Committee gave opinions on the draft Law on Assets (amended).
According to the submission, the development and promulgation of the Bankruptcy Law (amended) aims to amend and supplement regulations that are still stuck and inadequate in practice; remove bottlenecks in resolving bankruptcy cases; create a favorable legal corridor for businesses and cooperatives to recover production and business activities.
Speaking at the meeting, Politburo member and National Assembly Chairman Tran Thanh Man said that amending the Breast Law is an urgent and urgent requirement at present.
This amendment to the law must ensure compliance with the Party's guidelines and policies and judicial reform, improving the investment and business environment.
"We must find a way to overcome overlapping and inconsistent regulations between the 2014 Bankruptcy Law and other laws" - the National Assembly Chairman said and emphasized the motto of understanding wherever there is an advantage, removing the difficulties to create conditions for the country's socio-economic development.
Another thing is to overcome the shortcomings and limitations in the implementation of the 2014 Bankruptcy Law, such as regulations on procedures for resuming business operations, regulations on procedures to be shortened for recovery and bankruptcy for enterprises and cooperatives of a specific nature and small scale.
According to the National Assembly Chairman, how to clearly implement recovery procedures and bankruptcy procedures for support policies, creating conditions for businesses and cooperatives to be able to operate.
"We must review and shorten the time to carry out bankruptcy settlement procedures. Now that it has gone bankrupt and has been prolonged, it is very harmful. How to shorten procedures, reform administrative procedures to make them faster" - the National Assembly Chairman proposed.
It is necessary to study and simplify procedures for resuming business operations, strengthen coordination between the Court and relevant agencies, organizations and individuals in resolving cases of recovery and bankruptcy.
The National Assembly Chairman added that according to the report summarizing the implementation of the law, the time from the beginning of the process to the settlement of the case often depends on the nature and complexity of the case.
"There has been a bankruptcy case that has lasted for 10 years, 16 years but is still being carried out, we need to look back at this time" - the National Assembly Chairman gave an example.
The National Assembly Chairman also proposed to perfect regulations on payment inability and financial reporting. This issue must be studied and revised to change the concept of unable to pay enterprises and cooperatives in the direction of increasing the term from 3 months to 6 months or 1 year, avoiding abuse to protect enterprises from bankruptcy.
At the meeting, Deputy Chief Justice of the Supreme People's Court Nguyen Van Tien stated that bankruptcy costs are a major problem. This is the reason why many businesses "can't bury themselves because they don't have money to pay the costs".
According to Mr. Tien, the Government's view is to exempt this type of fee. However, for the process to be operated, especially payment to the Manager, there needs to be a financial source.
"We respectfully propose that the National Assembly Standing Committee consider allowing the establishment of a fund or the use of the state budget for this purpose. Without this mechanism, it will be very difficult to resolve the issue" - Deputy Chief Justice Nguyen Van Tien stated.
