As a business law firm, our clients include companies operating in a variety of business sectors, such as banking and finance, real estate, construction, entertainment, insurance, consumer goods, manufacturing, …. We have advised and assisted our clients in structuring their management, capitalization and dealing with the issue of controlling right over the business operation and management.
Our services in the field of foreign investment covers a wide full range from assistance in market research, quantifying benefits and risks associated with investment policies of the government, obtaining business license or investment certificate for investors in Vietnam or in other countries. In many circumstances, our capacity of communicating with the local community and intensive experience of our lawyers have made the local authorities and counterparties more comfortable in reaching an agreement, resolving the deadlock and have contributed to the success of the client’s business.Corporate Consulting Service of Apolat Legal:
- Establishment of Foreign Investment Enterprises (FIEs);
- On Going Legal Advice To FIEs;
- Legal Due Diligence;
- In-house Counsel;
- Corporate Compliance & Governance;
- Corporate Reorganizations, …
For more detail information, please contact us via email email@example.com or here.
From January 7th, 2021 to January 9th, 2021, Apolat Legal organized the company retreat for all members at Vung Tau City. This is the time for all to look back on the year over and enjoy the holiday after the hard-working days.
Especially, on January 7th, 2021, the 5th anniversary of the establishment of Apolat Legal (January 1st, 2016 to January 1st, 2021) was also held. The year 2020 is an important milestone marking the constantly evolving 5-year journey of Apolat Legal.
Over the years, Apolat Legal has supported domestic and foreign clients to address business issues and settle complex legal risks. We have been efforts to expand international cooperation, connected with the organization, associations, with the belief that the industry of legal services must always change to adapt to the wave of globalization and the digital economy.
Building a system with its headquarters in Ho Chi Minh City, Apolat Legal also expands its scope of operations in Hanoi.
The 5th anniversary of Apolat Legal and preparing for the 2nd 5-year plan, the year 2021, and the following years will mark further innovation and development.
Apolat Legal, with enthusiastic, responsible and aspiring people. Youthful, dynamic and friendly working environment; reasonable and attractive facilities, recruitment and treatment for talents… Apolat Legal aims to be in the top 20 leading law firms in Vietnam by 2025.
Finally, we would like to express our sincere thanks to the people who have contributed to Apolat Legal. Apolat Legal in the present, all thanks to the efforts, dedication of all of you. Apolat Legal is honored that you have been a part of our 5-year journey.
Some images at YEP night:
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Apolat Legal would like to inform you that all Apolat Legal’s members will participate in our annual company retreat:
From Thursday, January 7th, 2021 to Saturday, January 9th, 2021.
We will back to work as usual from Monday, January 11th, 2021.
Please contact us before or after this time.
1. On December 18th, 2020, The Supreme People’s Court issued Official Dispatch No. 199/TANDTC-PC announces the results of online answers to some problems in bankruptcy settlement
According to the Official Dispatch, the Supreme People’s Court has answered the issues that the courts need to pay attention when settling the bankruptcy procedure as follows:
Firstly, the status of an insolvency enterprise or cooperative must fully satisfy the following conditions:
- Have a specific, clear debt recognized, agreed upon by the parties or determined through a legally effective judgment or decision of a court, ruling of commercial arbitration, or determined in a decision of the competent authority, and the parties don’t have any dispute over this debt.
- The debt is due for payment. Maturity debt means a debt with a clearly defined payment term, by which time the enterprise or cooperative must be obliged to repay the debt. This payment time limit is acknowledged, agreed upon by the parties or determined by a legally effective judgment or decision of a court, a judgment of a commercial arbitration or decision of a competent authority.
- The enterprise or cooperative fails to fulfill the debt payment obligation within 3 months from the due date, because it has no assets to pay the debt or has assets but does not pay the debts.
Secondly, if the Court issues the decision to open the bankruptcy proceedings, the deposit of bankruptcy expenses paid by the applicant is not enough. The court can request the applicant to continue to submit the deposit. Suppose the applicant does not pay the supplement deposit of bankruptcy expense as requested, the Judge, at his discretion or according to the request of asset administrators, can decide on the sale of assets of the enterprise or cooperative after opening the bankruptcy procedure to ensure the payment of bankruptcy expense; the selling of assets is assigned to the asset administrators or the asset administration enterprises to ensure the bankruptcy expenses is paid in full.
Thirdly, in case the “Decision to open bankruptcy proceedings” is canceled by a superior court, the deposit of bankruptcy expense shall be refunded to the applicant, except for the case the applicant submits the dishonest bankruptcy claims.
2. The Ministry of Justice issued Circular No. 06/2020/TT-BTP dated December 17th, 2020, amending and supplementing a number of articles of Circular No. 08/2018/TT-BTP dated June 20th, 2018 guiding a number of issues on registration, providing information on security, contracts and information exchange on registered security, which comes into effects on January 01st, 2021
According to the Circular, collateral registered at the Asset Trading Registration Center as required from February 1st, 2021, has the following changes:
Firstly, separating the registration of security and the registration of contract at the registration center. Accordingly, the registration of contract is intended to publicize information and it does not give effect to the contract.
Secondly, supplementing provisions on online registration in case of not requiring a code to use the datebase of security measures.
Thirdly, amending, supplementing, and abolishing provisions on property which must be registered the security transaction, including:
- Supplementing objects of property rights with respect to objects of copyright, industrial property rights, rights to plant varieties; Property rights arising from results of scientific research, technological development, technology transfer or other property rights of monetary value in the fields of science, technology, and information technology; the right to exploit natural resources.
- Cancellation of “Property rights arising from shipbuilding leases; the right to compensate for damage arising from the contract of purchase and sale of aircraft or seagoing ships; the right to enjoy insurance under the insurance contract for aircraft and ships”.
- Supplementing property rights arising from a contract include the right to collect debt, the right to demand payment, the right to enjoy the benefits formed from the contract, the right to exploit, manage the project, the right to compensate for damage under the contract. or other property rights of monetary value arising from the contract (except for land use rights, ownership of property on land, ownership or other rights which must be registered with respect to aircraft or seagoing ships according to regulations. regulations of the law on aviation and maritime).
The Circular No. 06/2020 / TT-BTP takes effect from February 01st, 2021.
Download Legal Updates as a PDF here.
1. The new regulation on the age of retirement and the health care for female employee
The Government promulgated two Decrees guiding the implementation of some contents of the Labor Code 2019, specifically the Decree No. 135/2020/ND-CP dated November 18th, 2020 regulating the retirement ages and the Decree No. 145/2020/ND-CP dated December 14th, 2020 defining and providing guidance on the implementation of many contents of the Labor Code on working conditions and industrial relations.
1.1 The Decree No. 135/2020/ND-CP dated November 18th, 2020 regulates the retirement ages
1.1.1 The age of retirement
According to the Decree No. 135/2020//ND-CP, from January 01st, 2021, employee working in normal working conditions shall retire from work at the age of 60 and 03 months for male and 55 and 04 months for female. In the following years, the age of retirement of each year shall be increased by 03 months for male until they reach at the age of 62 in 2028 and by 04 months for female until they are 60 years old in 2035. Therefore, comparing with the current regulation, the age of retirement for male shall increase from 60 to 62 by 2028 and from 55 to 60 by 2035 for female.
1.1.2 Retirement before or after reaching the specified age of retirement
Depending on the circumstances, the employees can retire earlier or later than the age of retirement regulated. Specifically, the employees doing heavy lifting or working in hazardous environments can retire sooner, while working in highly-skilled jobs or the private sector can retire later. Generally, the maximum extension will be five years.
1.2 The Decree No. 145/2020/ND-CP dated December 14th, 2020 defines and provides guidance on the implementation of several contents of the Labor Code on working conditions and labour relations, details as follows:
In this Decree, the key points on health care for female employees are the regulations about the break of female employees during menstruation and female employees during the period of nursing a child under 12 months, specifically:
The female employee is entitled during her menstruation to a 30-minute break every day and during the period of nursing a child under 12 months is entitled to a break of 60 minutes every day which shall be included in the number of working hours and shall still receive the same wages as stated in her labour contract. In case a female employee does not want to take a break and employer allows her to work, a female employee is entitled to receive an additional salary for the work performed in the break, in addition to the salary pursuant to her labour contract.
Besides, the Decree No. 145/2020/ND-CP has the new provision on requiring employers who have more than 1000 female employees must install lactation and storing breastmilk rooms in the workplace.
The Decree No. 145/2020/ND-CP will take effect from February 1st, 2020.
2. The Government promulgated the new project on supporting to reduce the electricity price, electricity bills (the second time) for customers using electricity
The above project is approved when the Government promulgated Resolution No. 180/NQ-CP on the new project on supporting to reduce the electricity price, electricity bills (the second time) for customers using electricity on December 17th, 2020 based on proposal of the Industry and Trade Ministry. Specifically, according to the report of the Industry and Trade Ministry sent to the Prime Minister of the Socialist Republic of Viet Nam to propose the project on supporting to reduce the electricity price, electricity cost (the second time):
- The retail price of domestic electricity from level 1 to level 4 shall be reduced by 20%;
- To decrease electricity price from the retail level applied to business by retail price applied to the manufacturing industry for the customer that is tourist accommodation establishments or customer having warehouse during circulation;
- Establishments use for isolating, centralized medical examination for patients with suspected infection, already infected with COVID-19 shall receive a 100% reduction in electricity bill;
- Medical establishments used for examination, testing and treating the suspected and infected patients with COVID-19 are entitled to a 20% discount on their electricity bill; and
- Customers shall be assisted to reduce electricity price, electricity bills for 03 months with invoices in October, November, December 2020.
The Government assigned the Ministry of Industry and Trade to cooperate with the Ministry of Finance and related agency for implementing, ensuring strictness, right subject, and not allowing the policy to be abused for bad purposes.
Download Legal Updates as a PDF here.