Consultation seminar on the Draft Law on Bankruptcy (amended)

On the morning of August 7, 2025, at the National Assembly Headquarters, the National Assembly’s Economic Committee held a consultation seminar with experts on the Draft Law on Bankruptcy (amended) to gather analyses and recommendations from the professional community, aiming to improve the legal framework on bankruptcy for enterprises and cooperatives in the new context.

The seminar attracted the participation of numerous legal experts, policymakers, administrators, asset managers, and representatives from law firms and professional organizations.

During the discussions, the experts emphasized the importance of establishing a transparent and practical bankruptcy mechanism that ensures a balance of interests among enterprises, creditors, and employees. They also suggested developing pre-bankruptcy restructuring procedures to enhance the chances of recovery for businesses. Mr. Nguyen Hung Quang, Managing Partner of NHQuang& Associates and Senior Expert at the International Finance Corporation (IFC), attended the seminar and offered a range of proposals to improve the current Law on Bankruptcy. Among his comments, Mr. Quang proposed introducing new provisions on asset sales, including partial or entire sales of enterprises or cooperatives, and on mediation mechanisms during rehabilitation and bankruptcy procedures.

The seminar provided an opportunity for experts to exchange in-depth views on the directions for amending the Law on Bankruptcy, contributing to the development of a legal system aligned with market economy practices and promoting a healthy and sustainable business environment.

This event was among several meetings in which Mr. Nguyen Hung Quang has participated to provide expert input on improving Viet Nam’s bankruptcy law framework.

Read more about the seminar here (Vietnamese only): https://quochoi.vn/uybankinhte/lapphap/Pages/home.aspx?ItemID=808&fbclid