Luat Viet

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“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

Tackling labour strikes

Tuesday, March 14th 2006, Luncheon at the Sofitel Plaza Hotel, Ho Chi Minh City. Starting January 2006, and lasting a few months, waves of illegal labour strikes fell on many foreign invested enterprises located in the southern part of Vietnam, and especially those in industrial parks around Ho Chi Minh City.

It is difficult to say what caused the strikes and many factors have been blamed. Nonetheless, quickly responding to the worries of foreign business owners and managers, LuatViet hosted on March 14^th 2006 a very successful seminar on how to manage labour strikes in the light of Vietnamese laws.

The seminar first aimed at arming the audience with knowledge about the current legal framework on labour strikes and gave insights on the content related to labour strikes in the draft new labour law. For the second part of the seminar, LuatViet lawyers discussed about the difficulties in dealing with labour strikes and shared its experience regarding what should be done to minimise the risk and severity of labour strikes.

At the end of the seminar, more than 100 business owners and managers knew what the law said about labour strikes, what were the limits, and what systems these companies needed to put in place in order to minimise the risk and severity of labour strikes.