Group 7

Group 7
 Group 7
Business Law

Phan Lan Phan Tấn

Phương Phương

Sầm Lê Phụng
Ngọc Chi Thủy
 Group 7
BUSINESS LAW
Topic: Bankruptcy

Analysis issues

Rules

Apply

Conclusion
 1
Analysis
Issues
 Issues
Company XYZ is established in 2020. Its charter capital is VND 10 billion. In 10-2021, the creditors of this company apply
to the court to request for declaration of bankruptcy of this company. We know that:
•Company XYZ owed the electricity company VND 50 million
•Company XYZ owed the water company VND 100 million
•Company XYZ owed 300 employees the salary (for each one: VND 3 million)
•The cost for bankruptcy is VND 1,540,000,000
•Company XYZ owed Bank A VND 2 billion (guaranteed by 1 property valued VND 5 billion)
•Company XYZ owed Bank B VND 5 billion (guaranteed by 1 property valued VND 3 billion)
•Company XYZ owed Bank C VND 400 million without any guaranty
•Company XYZ owed Mr. D VND 2 billion without any guaranty
•The final property of the company to be distributed is 10 billion.

Distribute the remaining property of this company

 Issues
Công ty XYZ được thành lập vào năm 2020. Vốn điều lệ là 10 tỷ đồng. Ngày 10 - 2021, các chủ nợ của công ty này nộp
đơn ra tòa yêu cầu tuyên bố phá sản công ty này. Chúng ta biết rằng:
• Công ty XYZ nợ công ty điện 50 triệu đồng
• Công ty XYZ nợ công ty nước 100 triệu đồng
• Công ty XYZ nợ lương 300 nhân viên (mỗi người: 3 triệu đồng)
• Chi phí phá sản là 1.540.000.000 đồng
• Công ty XYZ còn nợ Ngân hàng A 2 tỷ đồng (được đảm bảo bằng 1 tài sản trị giá 5 tỷ đồng)
• Công ty XYZ còn nợ Ngân hàng B 5 tỷ đồng (được bảo lãnh bằng 1 tài sản trị giá 3 tỷ đồng)
• Công ty XYZ nợ Ngân hàng C 400 triệu đồng mà không có bảo lãnh
• Công ty XYZ nợ ông D 2 tỷ đồng mà không có bảo lãnh
• Tài sản cuối cùng của công ty được chia là 10 tỷ đồng.
Phân phối tài sản còn lại của công ty này
2. Rules
 Rules
According to Article 54 of Law on Bankruptcy in 2014:
Sequence of redistribution of assets:
1. When the judge gives the Decision on the declaration of
bankruptcy, the assets of the insolvent entity shall be
redistributed in the following sequence:
a) Cost of bankruptcy
b) The unpaid salaries, severance pay, social
insurance and medical insurance to
employees, other benefits according to the
labor contracts and collective bargaining
agreements;
c) Debts incurred after the initiation of
bankruptcy which are used for resuming the
business operation.
d) Financial obligations to the Government;
unsecured debts payable to the creditors on
the list of creditors; secured debts which are
not paid because the value of collateral is not
enough to cover such debts.
3. Apply
Apply
The remaining property of this company can be distributed in the
following order:
The final property of the company to be distributed is 10 billion →
The company’s current asset is 10 billion.

a) Cost of bankruptcy = VND 1,540,000,000 → After paying this, the

company has 8,460,000,000 VND left.
b) The unpaid salaries: Company XYZ owed 300 employees the
salary (for each one: VND 3 million) → Company has to pay
900,000,000 VND ➔ The company has 7,560,000,000 VND left.
Apply
d) Unsecured debts payable to the creditors on the list of creditors; secured debts which are not paid
because the value of collateral is not enough to cover such debts:

- Company XYZ owed the electricity company VND 50 million → The company needs to pay 50 million
to the electricity company ➔ The company has 7,510,000,000 VND left.
- Company XYZ owed the water company VND 100 million → The company needs to pay 100 million to
the water company ➔ The company has 7,410,000,000 VND left.
- Company XYZ owed Bank C VND 400 million without any guaranty → The company must pay 400
million to Bank C ➔ The company has 7,010,000,000 VND left.
- Company XYZ owed Mr. D VND 2 billion without any guaranty → The company has to pay 2 billion to
Mr. D ➔ The company has 5,010,000,000 VND left.
Apply
- Company XYZ owed Bank A VND 2 billion (guaranteed by 1 property valued VND 5 billion) →
The company needs to pay 2 billion to Bank A and get the guaranteed property back ➔ The company
has 8,010,000,000 VND left.
- Company XYZ owed Bank B VND 5 billion (guaranteed by 1 property valued VND 3 billion) →
The company must pay 5 billion to Bank B and get the guaranteed property back ➔ The company has
6,010,000,000 VND left.
Conclusion
Conclusion
Conclusion

In conclusion, after distributed the remaining

property the company has 6,010,000,000 left
Thanks For Listening!
Group 7