Pratices Bankruptcy and Restructuring LeTran has distinguished itself as being one of very few law firms in Vietnam specializing in bankruptcy and restructuring under Vietnamese law. Over the years, LeTran has represented several multinational corporations in settling the debts with their creditors and subsidiaries in Vietnam as well as providing advice and support in negotiations with potential investors to restructure these corporations. In bankruptcy proceedings, we are skilled at identifying the rights and obligations concerning the creditors of the business, the company requesting bankruptcy, and the managerial positions of the company. We have full knowledge and extensive experience of the timeline and methods for taking steps to secure the assets of a company, acceptable payment methods, evaluation of a company’s assets, and solutions for protecting the managerial positions from potential criminal liability following the court’s decision to commence bankruptcy proceedings. In general, most companies do not anticipate (and certainly do not wish for) a court-ordered bankruptcy. However, depending on the factual circumstances of the business and the applicability of various restructuring strategies, bankruptcy may be a potential solution to resolve business difficulties and successfully recover from a financial crisis. In the business community, LeTran is a recognized authority in the field of bankruptcy and restructuring. As such, the firm closely monitors the legal developments as they occur. As requested by several corporations of the American Chamber of Commerce in Vietnam (AmCham Vietnam), LeTran hosted a seminar “Bankruptcy – Why not?” in 2019 to assist the business community to have a better understanding of bankruptcy proceedings in Vietnam.