Phuoc & Partners Vietnam International Law Firm

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Phuoc & Partners Attorneys At Law

Legal Update Newsletter March 2019

Our Part I of this Legal Newsletter introduces the legal article “Subsidiaries go bankrupt – can creditors “seek compensation” from parent companies?” by our Lawyer Lac Thi Tu Duy as published on January 24, 2019 in the Sai Gon Economic Times. In this article, the author analyses the legal liabilities and direct and indirect activities of a parent company in its subsidiary companies. The author particularly focuses on the consequences of a subsidiary’s claim for bankruptcy in accordance with the 2014 Law on Enterprises to effectively protect the legitimate rights and interests of creditors and contribute to a transparent business environment.

In Part II, we would like to provide you with some remarkable regulations as follows:

  1. Adoption of legal framework for exhibition activities for non-commercial purposes;
  2. Expanding labour outsourcing activities;
  3. As from 1 March 2019, unincorporated organizations are eligible to resume opening payment accounts at banks and foreign bank branches; and
  4. Tariff quotas on imported salt and poultry eggs in 2019.

Apart from the above, as usual, our Part III will provide you with a selected list of new regulations issued in March 2019 for your further reference.

We hope that this Newsletter is of use to you. Should you have any questions, please feel free to contact us to contact us through our email address