PRACTICES

Bankruptcy and Restructuring

LeTran is one of very few law firms in Vietnam specializing in bankruptcy and restructuring in Vietnam. As such, LeTran is continuously representing a significant number of multinational corporations in matters concerning the relationship between their companies/branches in Vietnam and creditors as well as in negotiation with potential investors for the purpose of restructuring.

During bankruptcy procedures, LeTran understands the relevant key issues.  This includes but is not limited to assessing the critical time for identifying the rights and obligations of the company (who has filed for bankruptcy) as well as its creditor(s), the roles of company managers, taking steps to protect the company’s assets, payment methods, asset valuation and solutions to protect company managers from liability following commencement of bankruptcy proceedings.

In general, most companies do not desire bankruptcy procedures to be instituted by the court. However, depending on the factual circumstances and the restructuring strategy, bankruptcy may be a good opportunity to resolve the difficulties arising from business activities and financial conditions when there is no other feasible solution.

As one of the few law firms proficient in bankruptcy matters, LeTran is at the forefront of monitoring and shaping the law.  As requested by several companies, LeTran, in cooperation with the American Chamber of Commerce in Vietnam (AmCham – Vietnam), conducted a workshop/seminar “Bankruptcy – Why not?” in 2019.