Luat Viet

Advocates & Solicitors

“I don't need lawyers who win at all costs, I really need them to win, but calculate the costs.”

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Question :: I am a member of the Supervisory Commission (the Commission) of a public company which is unlisted and termed from 2007 to 2010. Until now, my term is still valid. In 2009, I was [not] invited to attend any meeting of the company’s Commission. Recently, I also did not attend the Commission’s meeting to produce the Commission’s Report for submission to the General Shareholder’s Meeting (the Meeting) year 2010 on April 9. I was informed that this Commission’s Report was built by the Commissions’ Director (the another member of the Commission also did not attend). I would like to ask you whether the operation of the Commission like that is legal or not? Is the Report mentioned above legal? What should I do to comply with the rights, duties and obligations of a Commission’s member?
Question :: I am a president of the Management Board (“the Board”) of a public company. As per regulations, the term of the Board, Supervisory Commission (“the Commission”) is five (5) years. Therefore, the first term of the Board, Commission is due on November 2010. However, in order to facilitate the voting of the Board, the Commission in the second term, the Board would like to submit the General Shareholder’s Meeting (“the Meeting”) with the latest on April 19, 2010 for renewal of the first term of the Board, the Commission until April 2011. So, the question is that is the renewal true or not? If the shareholders are not taken opinions directly at the Meeting, can the Board collect opinions indirectly from shareholders in writing? If the Meeting does not pass the renewal, how can the voting of the Board, the Commission be taken in compliance with laws?
Question :: Our company registers shares at the Securities Depository Central (SDC), but cannot deposit, of which my 10.000 shares. So, can I transfer directly 2.000 shares to my brother and compliment 2.000 shares to my wife?

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Our Firm News

LuatViet Advocates & Solicitors was awarded the “Law Firm of the year 2009”

On 4th May 2010, at Daewoo Hotel in Ha Noi, LuatViet Advocates & Solicitors was awarded the “Law Firm of the year 2009” by Vietnam Legal Newspaper in co-operation with Ministry of Justice, Vietnam Bar Federation, and Vietnam Lawyers Association. Read more

LuatViet announces the election of New Partner in HCMC Office

HCM City, Vietnam, 31 December 2009. LuatViet is proud to announce the election of new partner, Nguyen Thi Minh Huyen, in our HCMC-based office. Read more

LuatViet welcomes new lawyers to join the firm.

To better serve the clients’ needs, LuatViet has warmly welcomed two new members, Dinh Quang Hao and Pham Thuy Tuong Vi, joining our dynamic team recently. Read more

LuatViet published The Legal Guide for Doing Business in Vietnam

LuatViet published a book titled “A Legal Guide for Doing Business in Vietnam” on 22 October 2009. The book provides an overview on Vietnam investment law in the context of the country’s integration into the world economy. Read more

LEGAL NEWS

Tight control over home selling’s paper work

On the 23th of June 2010, the Government issued the Decree 71/2010/ND-CP detailing and instructing the implementation of laws regarding homes in effect on the 8th of August 2010 (Decree 71) replacing the Decree 90/2006/ND-CP issued on the 06th September 2006. Decree 71 considered as a firm deterrence to virtual house selling, and trading papers with the intention to better preserve the people’s interests on house buying. Read more

Contractors’ bid document purchase restriction will be fined up to 20 millions dongs

The above fine was determined based on the Decree 62/2010/ND-CP issued by the Government on the 4th of June 2010 regarding the implementation and supplementation of the Decree 53/2007/ND-CP on the regulation of financial penalty in the field of planning and investing. Read more

Electronic certification holds equal value as printed certifications

The Circular No.14/2010/TT-BKH Circular issued by the Ministry of Planning and Investment on the 14th of June 2010 instructed issues regarding documentation, orders, and processes for business registration in accordance to the Decree 43/2010/ND-CP issued on the 15th of April 2010 on business registration Read more

Certificates of deposit interest of foreign contractors must be subjected to income tax

On 22 April 2010, the Ministry of Finance issued the Circular No. 64/2010/TT-BTC (Circular 64) amendment, supplementation the Circular No.134/2008/TT-BTC guiding the performance of tax obligations applicable to foreign organizations and individuals doing business or earning incomes in Vietnam. Read more