Luat Viet

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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 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. The book is divided into 12 chapters, organized based on some key issues of Vietnam business & investment law such as incorporation, forms of investment, finance market, labour and employment, WTO commitments on market opening, land and real estate, intellectual property, M&A, tax policy, bankruptcy of enterprises, competition law, dispute resolution and immigration. The book is compiled by practicing lawyers of LuatViet based on their actual experience, which can be quite valuable to other perspective of investors, especially foreign investors.

The book, written in both Vietnamese and English, professionally designed and printed in Econo 100 paper, and provided totally free of charge to interested investors