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Areas of Practice

Dissolution and Bankruptcy

The dissolution/ bankruptcy of the enterprise not only results in the termination of the business entity but also affects the rights and obligations of other entities such as employees, business’s owner, creditors,… Despite the difference in its nature, either dissolution or bankruptcy also has its advantages:

1. The Dissolution:

  • The dissolution of the enterprise shows the initiative for each enterprise to the business situation of the enterprise because of the self-determination of the business’s owner;
  • The procedure of dissolving the enterprise is essentially administrative procedure, so it may be quick and simple;
  • After the dissolution of the enterprise, the dissolved business’s owner will be set free from responsibilities and may continue to be established and managed by another enterprise.

2. The bankruptcy:

  • This is an opportunity for the enterprise to "revive". After opening bankruptcy procedure, the enterprise shall not have to liquidate assets immediately and may apply business rehabilitation procedure.
  • After the Court issues a decision to open bankruptcy procedure, all rights to reclaim the debt is suspended and resolved in accordance with a general procedure for the Court. This helps to reduce the pressure on debt repayment for the enterprise.
  • The bankruptcy helps the enterprise reduces the financial burden. Debts are paid in accordance with the law. the enterprise only pays their debts within the limited of their remaining assets.

In point of view of most investors, legal procedures of Vietnam is not easy to understand and cannot being well assured, especially with regards the termination of a business rather than starting it, our experienced lawyers will advise and support our Client to decide the appropriated process with the company's situation, and will support the Client to get through difficulties of the dissolution/bankruptcy procedures with safety, efficiency, and in the most professional manner.


Contact: (84) 91 559 04 04

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