Rules on enforcement of bankruptcy decisions for enterprises and cooperatives

On February 28, 2026, the Government issued Decree No. 64/2026/NĐ-CP detailing a number of articles of, and providing measures for implementation of, the Law on Recovery and Bankruptcy regarding the enforcement of decisions declaring enterprises and cooperatives bankrupt. This Decree takes effect from March 1, 2026.

The Decree applies to agencies, organizations, and individuals responsible for implementing enforcement decisions, documents, requests, or proposals of civil judgment enforcement agencies, enforcers, asset management officers, and asset management and liquidation firms during the process of organizing the enforcement of decisions declaring enterprises and cooperatives bankrupt.

Some notable contents include:

Responsibilities of relevant agencies:

Agencies such as the State Treasury, credit institutions, social insurance agencies, asset registration agencies, tax authorities, and other relevant agencies are responsible for implementing enforcement decisions related to the declaration of bankruptcy of enterprises and cooperatives.

Procedures for enforcement of decisions declaring bankruptcy:

The head of the civil judgment enforcement agency shall issue an enforcement decision for each decision declaring an enterprise or cooperative bankrupt. Asset management officers or asset management and liquidation firms are responsible for organizing the enforcement of such decisions and must notify relevant parties within 03 working days.

Rules on enforcement of bankruptcy decisions

Verification and handling of assets:


Asset management officers or asset management and liquidation firms must verify the conditions for enforcement of the decision declaring bankruptcy within 09 days from the date of receiving the request. Expenses arising during this process are determined as bankruptcy expenses and shall be paid from the value of the assets of the enterprise or cooperative declared bankrupt.

Valuation and sale of assets:

Asset management officers or asset management and liquidation firms must carry out asset valuation within 10 days from the date of receiving the request. The sale of assets may be conducted through auction or without auction, depending on the specific circumstances.

Supervision of asset management officers:

Enforcers are responsible for supervising the activities of asset management officers and asset management and liquidation firms in the enforcement of decisions declaring enterprises and cooperatives bankrupt. Asset management officers must provide full and truthful reports on their activities and bear legal responsibility for any violations.

Decree No. 64/2026/NĐ-CP takes effect from March 1, 2026.

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