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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LuatViet - Advocates & Solicitors joined ADVOC ASIA

LuatViet – Advocates & Solicitors joined ADVOC ASIA as the exclusive member firm in Vietnam during the 13^th annual general meeting held in Auckland, New Zealand during October 17-21, 2008.

ADVOC ASIA is an international association of independent commercial law firms with member firms across the Asia Pacific region in countries including Australia, China/Hong Kong, India, Malaysia, New Zealand, Philippines, Singapore, Sri Lanka, Thailand, United Arab Emirates, and now Vietnam. ADVOC ASIA is also associated with ADVOC EUROPE and ADVOC LATIN AMERICA.

Each member firm in the ADVOC network is known and respected within its respective jurisdiction. LuatViet was selected and invited to join Advoc Asia based on its broad experience of and special knowledge in legal transactions in Vietnam.

As the sole member in Vietnam, LuatViet now has the access to and resources of internationally respected commercial laws firms to assist clients in cross-border transactions in and outside Vietnam.

For more information on Advoc Asia, please visit www.advocasia.com.