On October 23, continuing the 10th Session, the National Assembly listened to the report on the draft Law on Assets (amended) in the hall before discussing in the group of this draft law.
Presenting the draft Law on Assets (amended), Chief Justice of the Supreme People's Court (SPP) Le Minh Tri stated that the development of the Law on Assets (amended) aims to amend and supplement regulations that are still problematic and inadequate in practice, remove bottlenecks in resolving bankruptcy cases.
This amendment also creates a favorable legal corridor for businesses and cooperatives to recover production and business activities, declare bankruptcies and promptly end operations of businesses and cooperatives that are no longer able to recover, in order to unlock resources, support production and business, promote the economy...
In the new draft law, the Government proposes to supplement the State's policies in recovery and bankruptcy in the direction of having support policies on taxes, credit, interest rates, finance, land and other support measures for enterprises and cooperatives facing difficulties in business.
Based on the State's ability to balance resources in each period, the Government will develop specific mechanisms and policies to support.
This proposal aims to help businesses and cooperatives restructure, recover or withdraw from the market in an orderly manner, contributing to improving the investment and business environment and healthy the economy.
Expressing the inspection's viewpoint, Chairman of the Economic and Financial Committee Phan Van Mai proposed that the regulation on recovery procedures be a stage in the process of implementing bankruptcy procedures.
Regarding the basic principles and policies of the State, the draft Law has been adopted in the direction that the State has support policies on taxes, credit, interest rates, finance, land and other support measures for enterprises and cooperatives facing difficulties in production and business.
Based on the State's ability to balance resources in each period, the Government will develop specific mechanisms and policies to support businesses and cooperatives.
This regulation aims to restructure, restore or terminate production and business activities of enterprises and cooperatives in an orderly manner, contributing to improving the investment and business environment and healthy the economy - Chairman of the Economic and Financial Committee emphasized.
For the concept of enterprises and cooperatives at risk of being unable to pay, 6 months is a reasonable period for enterprises and cooperatives to determine whether they have a source of money to pay the due debt or not;
Before falling into a situation of inability to pay, enterprises and cooperatives must self-determine their difficult situation and have time to proactively balance finances before submitting a request to the Court to apply recovery procedures or bankruptcy procedures.
However, some other opinions suggested studying the regulations on the classification of debts of the State Bank for loans to revise the concept of inability to pay in the draft Law to make it suitable and consistent.
