Professional Documents
Culture Documents
Bankruptcy 1
Bankruptcy 1
Group 7
Group 7
Business Law
Sầm Lê Phụng
Ngọc Chi Thủy
Group 7
BUSINESS LAW
Topic: Bankruptcy
Analysis issues
Rules
Apply
Conclusion
1
Analysis
Issues
Issues
Company XYZ is established in 2020. Its charter capital is VND 10 billion. In 10-2021, the creditors of this company apply
to the court to request for declaration of bankruptcy of this company. We know that:
•Company XYZ owed the electricity company VND 50 million
•Company XYZ owed the water company VND 100 million
•Company XYZ owed 300 employees the salary (for each one: VND 3 million)
•The cost for bankruptcy is VND 1,540,000,000
•Company XYZ owed Bank A VND 2 billion (guaranteed by 1 property valued VND 5 billion)
•Company XYZ owed Bank B VND 5 billion (guaranteed by 1 property valued VND 3 billion)
•Company XYZ owed Bank C VND 400 million without any guaranty
•Company XYZ owed Mr. D VND 2 billion without any guaranty
•The final property of the company to be distributed is 10 billion.
bankruptcy, the assets of the insolvent entity shall be bankruptcy which are used for resuming the
business operation.
redistributed in the following sequence:
d) Financial obligations to the Government;
unsecured debts payable to the creditors on
the list of creditors; secured debts which are
not paid because the value of collateral is not
enough to cover such debts.
3. Apply
Apply
The remaining property of this company can be distributed in the
following order:
The final property of the company to be distributed is 10 billion →
The company’s current asset is 10 billion.
- Company XYZ owed the electricity company VND 50 million → The company needs to pay 50 million
to the electricity company ➔ The company has 7,510,000,000 VND left.
- Company XYZ owed the water company VND 100 million → The company needs to pay 100 million to
the water company ➔ The company has 7,410,000,000 VND left.
- Company XYZ owed Bank C VND 400 million without any guaranty → The company must pay 400
million to Bank C ➔ The company has 7,010,000,000 VND left.
- Company XYZ owed Mr. D VND 2 billion without any guaranty → The company has to pay 2 billion to
Mr. D ➔ The company has 5,010,000,000 VND left.
Apply
- Company XYZ owed Bank A VND 2 billion (guaranteed by 1 property valued VND 5 billion) →
The company needs to pay 2 billion to Bank A and get the guaranteed property back ➔ The company
has 8,010,000,000 VND left.
- Company XYZ owed Bank B VND 5 billion (guaranteed by 1 property valued VND 3 billion) →
The company must pay 5 billion to Bank B and get the guaranteed property back ➔ The company has
6,010,000,000 VND left.
Conclusion
Conclusion
Conclusion