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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LEGAL NEWS

Legal solutions to labour disputes

Wednesday, November 23^rd 2005, half-day seminar at the New World Hotel, Ho Chi Minh City. In collaboration with TUV Rheinland Group.

For most business owners and managers, the most challenging aspect to doing business in Vietnam is probably about managing its workforce. In addition to cultural and language barriers, foreign investors have to deal with very restrictive labour laws which are clearly in favour of employees.

Vietnam’s labour system is set in such a way that any form of discipline has to be based on written rules, rather than what we sometimes call “common sense”. Even in cases where company rules have been breached, complex procedures need to be strictly followed, as dictated in the laws, or otherwise face failure. The fact that employers only win in 7% of all labour cases brought to Vietnamese courts clearly show that only a handful of companies fully understand Vietnam’s labour system.

In a bid to challenge these statistics, LuatViet, the leading law firm on labour matters, lent a helping hand by giving a seminar on the delicate subject of labour disputes to more than 150 business managers on November 23^rd 2005.