Can the decision to declare the invalid civil transactions during bankruptcy proceedings be reviewed under the cassation as prescribed by the Civil Procedure Code?

Question:

Is the decision to declare a civil transaction void during bankruptcy subject to cassation review or not under the director’s supervision procedure of the Civil Procedure Code?

Answer:

According to Clause 3 and Clause 4 of Article 60 of the Law on Bankruptcy :

“3. Within 05 working days from the receipt of the Decision on declaring the transaction invalid, the insolvent entity and its contracting party may send a written request to the executive judge of the People’s Court in order to reconsider such Decision.

4. Within 07 working days from the receipt of the request for reconsidering the Decision on declaring the transaction invalid, the executive judge of the People’s Court given the Decision shall make one of the following decisions

a) Reject the request for review of the decision declaring the transaction void;

b) Cancel the Decision on declaring the transaction invalid. Any dispute shall be settled according to Chapter X of this Law.”

Hence, the decision to declare a transaction void may undergo cassation review as per Clause 3 and Clause 4 of Article 60 of the Law on Bankruptcy, without the need to invoke the Civil Procedure Code for appeal under reopening procedures.

HMLF is always available to offer assistance in understanding the procedures with authorities.

Harley Miller Law Firm “HMLF”

Head office: 14th floor, HM Town building, 412 Nguyen Thi Minh Khai, Ward 05, District 3, Ho Chi Minh City.

Phone number: +84 937215585

Website: hmlf.vn Email: miller@hmlf.vn