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A very interesting point is that the draft decree only prohibits Vietnamese from playing on gaming machines. At present, pending the issuance of the Casino Decree, all projects on casino are put on hold. Please do not hesitate to contact Oliver Massmann under omassmann duanemorris. Par ailleurs, les honoraires des avocats des cours internationales sont souvent plus importants que ceux des avocats vietnamiens Shouzhi et al. Les cours arbitrales peuvent elles aussi rendre des mesures provisoires.

As you already know, Vinamilk is one of the most profitable SOEs, so both foreign and local investors are very interested in buying shares in the company. Vinamilk is also investing in many other countries in the region Myanmar, Cambodia to open its distribution network.

It is now too early to say anything, as whether Vinamilk becomes the top dairy company in Southeast Asia depends much on who are the strategic shareholders and the leadership capacity of the successor of Ms. These numbers say it all.

Simply put, notarization, done by a licensed notary office, covers both legal validity and authenticity mainly the signatures of the transactions. As such, a notary public may be wholly liable for damage caused to his clients if content of the relevant contract is concluded inconsistent with the laws.

Unlike the Civil Codes of Vietnam and that adopt the negative approach i. Even more strictly, the restrictions apply to both sides of a transaction. For example, if a seller has a clear right to transfer LURs but the purchaser is not expressly permitted to receive the transfer of such LURs, no deals can be established. Back to FIEs, they can only acquire under specific circumstances set out by the Land Law, mostly listed in its Article This principle of applying laws should be taken into full consideration when FIEs are about to make major decisions relating to land-related issues.

Compared with their local counterparts, FIEs have more limited access to land. For example, FIEs cannot receive the transfer of land use rights LURs with respect to agricultural land or any types of land from households or individuals. This may cause some difficulties for FIEs who may want to acquire land from, for example, neighboring individual land users to expand their current production or business sites.

To go around this restriction, a number of FIEs seek to employ a local nominee enterprise which will receive the land from the individual land users and transfer back the same to the requesting FIEs. Even so, another question may arise: Can FIEs receive land directly from, among other, enterprises including domestic and foreign invested ones?

Item 4 below discusses more. As such, without any guidance under the Land Law, FIEs can only receive the transfer of LURs by way of acquiring investment capital from an enterprise land user. This provision is relatively unclear and fails to correspond to other related legal instruments. Firstly, while it is possible to carve out value of a specific investment [project] from an accounting perspective, the transfer of such value is not provided elsewhere other than the Land Law itself.

This makes the implementation of the above machenism technically paralyzed. Each type of transfer would definitively lead to different legal, business and accounting consequences. The Land Law states that the settlement of LURs of insolvent and dissolved companies will be subject to general provisions of laws. This cross-reference, according to the official of the MONRE, causes difficulties in dealing with land of insolvent companies.

The broadest meaning of this concept even expands to how the company interacts with suppliers, customers, creditors or the government agencies. In both senses, effective corporate governance and a sound legal framework on the same are critical for development of not only companies but also the business community in a relevant jurisdiction. The Law on Enterprises of Vietnam in can be considered the first ever comprehensive set of legal framework that addresses corporate governance in Vietnam.

Over time, the law has been tailored for specific targets e. Despite such efforts, problems, always, still exist when it comes down to a better and workable legal framework for corporate governance, especially in light of well-established international standards.

This poses investors and their management to a high level of risks which may cost them an ill business, possible claims for compensation and even criminal charges. We consider some key, not an exhaustive list of, points that need to be addressed for a better legal framework on corporate governance in Vietnam.

The improvement of corporate governance of this corporate form would definitively add values to their investment in particular and the investment environment of Vietnam generally. From a legal perspective, it is implied that the EL does not allow the owner to directly exercise these rights. In other words, though the owner is given the ultimate power, it has no option but to authorize other persons to exercise such power. Unfortunately, the language of the EL is not that clear and causes confusion for the investors, the management and even the licensing authority.

This is even more critical because some guiding regulations of the EL, especially Decree 78 dated 14 September on enterprise registration Decree 78 still requires decision of the owner on, for example, the change of the legal representative of the relevant SMLLC. From a pure business perspective, this status quo may somewhat affect normal operations of an SMLLC in that decisions of offshore owners, which may not be easy to obtain, are always required for a number of decisions of the SMLLC.

Guiding regulations such as Decree 78 should be changed accordingly. Article Specifically, the Civil Code only allows an individual or a legal entity to act on behalf of their counterparts with respect to implementing civil transactions, which arguably include the aforementioned rights and obligations.

The above inconsistency indicates shortfalls in law making process in Vietnam which is always among the biggest concern with foreign investors. Pursuant to the Civil Code, only legal representative or authorised representative can act in the name of a legal entity including a corporate entity.

Nevertheless, Articles There should be no challenge to this right if the GD is also the legal representative of the company. However, there can be a situation that the charter is totally silent on who is the legal representative of a company or refers person other than the GD of an SMLLC to this position. As such, the above power of the GD not only violates principles of Vietnamese law on representation but also affect the freedom to manage its venture.

Articles Shadow directors SD are generally understood as those possibly shareholders whose instructions or directions are often followed by the management personnel of the company. A de-facto director DD who actually acts as a director of the company without formally being appointed to this position. The reason why laws of many jurisdictions identify SDs and DDs is that they should be held liable for loss and damage caused to the company and third parties due to their influence.

Vietnam is not an exception where many current disputes and criminal cases involve with the influence of, very often, SDs and, to a lower extent, DDs. Unfortunately, the EL does not tackle this issue in a clear and comprehensive manner. This lack of clear and comprehensive set of rules on who will be SDs and DDs and their respective liabilities would distort the good practice of transparent corporate governance on one hand.

On the other hand, this fact would prompt an unexpected and improper conducts of people whose acts would negatively affect the company. This is critical because these people know that such acts will not be severely punished by the laws.

The EL should i define who will be considered SDs and DDs and ii how they should be held liable on loss caused to the company and third parties. Please do contact the author Oliver Massmann under omassmann duanemorris. Ihre Hauptunterschiede sind in der folgenden Tabelle dargestellt:. Unterlizenzen wie Lizenzen, Zertifikate, etc. Im Vergleich zu der Verordnung Nr. Law Commission n — Commission des lois f. T h e United Nations Commission on International Trade Law p r ov id es a model t h at could be extended to the harmonization [ In this regard, several countries have.

NAFTA outlines certain general procedures regarding the arbitration but stipulates that such arbitration must be conducted in accordance with the Convention on the Settlement of Investment Disputes between States and Nationals of Other. In fact, this set of optional rules is based on the Arbitration Rules. Any dispute arising out of these Internal Regulations or related to them shall be resolved by. Expresses its appreciation to t h e United Nations Commission on International Trade Law f o r completing and adopting t h e Model L a w on Electronic Commerce contained in the annex to [ Les parties doivent choisir entre un arbitrage ad hoc auquel s'applique en.

Not only will the publisher promote an online service that includes both current and historical publications of the. Elle est. Any dispute, controversy or claim arising out of or relating to this agreement, or the breach, termination or invalidity thereof, shall - unless it is settled by direct negotiation - be settled by arbitration in accordance with.

The Council authorised the Commission to negotiate,. Please click on the reason for your vote: This is not a good example for the translation above. The wrong words are highlighted. It does not match my search. It should not be summed up with the orange entries The translation is wrong or of bad quality. Thank you very much for your vote! You helped to increase the quality of our service.

In this regard, several countries have [ C'est ainsi que plusieurs pays ont fait des [ The amendments are currently under [ NAFTA outlines certain general procedures regarding the arbitration but stipulates that such arbitration must be conducted in accordance with the Convention on the Settlement of Investment Disputes between States and Nationals of Other [


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