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VIETNAM ACADEMY OF SOCIAL SCIENCES GRADUATE ACADEMY OF SOCIAL SCIENCES NGUYEN THAI TRUONG LEGAL STATUS OF LIQUIDATOR UNDER CURRENT VIETNAMESE LAW ON BANKRUPTCY Major: Economic Law Major code: 38 01 07 SUMMARY OF DOCTORAL THESIS IN JURISPRUDENCE HA NOI - 2022 The study is completed at: GRADUATE ACADEMY OF SOCIAL SCIENCES Science instructor: Assoc.Prof Nguyen Viet Ty Reviewer 1: Assoc.Prof Nguyen Duc Minh Reviewer 2: Assoc.Prof Tang Van Nghia Reviewer 3: Assoc.Prof Le Thi Hoai Thu The thesis is defended at the Academy-level Thesis Assessment Council, which meets at the Graduate Academy of Social Sciences, 477 Nguyen Trai street, Thanh Xuan district, Hanoi Time: at the time of date month year 2022 The thesis can be found at: National Library Library of the Academy of Social Sciences PREAMBLE The urgency of the topic The market economy is an ideal environment for the development of enterprises (enterprises), cooperatives (cooperatives) Through market mechanisms, many enterprises and cooperatives have expanded their production and business, constantly establishing new scales and raising their reputation in the market However, with those same mechanisms, it has created a fierce competition, leading to many enterprises and cooperatives that not meet the requirements of the market have to "lose breath" in the race to gain market share and operate Production activities stopped, debts increased, insolvency and as a result fell into a state of asset bankruptcy leading to bankruptcy To solve the bankruptcy of enterprises and cooperatives, the natural mechanism allows such enterprises to stop production and withdraw from the market However, for enterprises with debt status, this mechanism will lead to negative consequences on debt payment for creditors Accordingly, businesses and cooperatives will arbitrarily conduct separate debt payments, giving priority to familiar debtors or debt collection first, leading to other creditors being affected by less familiarity or debt collection later This in general has a very negative impact on economic activities and security and social order Therefore, when in a state of bankruptcy, enterprises and cooperatives must follow a legal procedure strictly regulated by the state called bankruptcy procedure - which is literally understood as a procedure for claiming bankruptcy collective debt The bankruptcy procedure has the ultimate purpose of helping an enterprise or cooperative to withdraw from the market in an orderly manner, and the debt payment to creditors is made according to the principles of fairness, equality and harmony physical The authority to declare bankruptcy is normally vested in the Court with the participation of debtors and creditors Each of the above subjects has a different purpose in the legal relationship on bankruptcy, so it is necessary to have an intermediary institution to coordinate on behalf of all of them for common interests That institution is called a Trustee (QTV) or Administrator depending on the legal background QTV is essentially an intermediary institution, who has no rights and interests related to bankruptcy proceedings before being appointed to participate in that procedure This institution has an independent legal status, is recognized by the subjects and on behalf of the subjects carry out the bankruptcy settlement procedures for enterprises and cooperatives In which, mainly management and liquidation of bankrupt enterprises and liquidation of debts for creditors The basis for the trustee to perform its duties is the law, so the recognition of the bankruptcy law on the legal status of the trustee plays a core role in establishing the position and role of the resolution this provision in bankruptcy proceedings In Vietnam, QTV has been legalized since 2014 with the Bankruptcy Law of 2014 to replace the Asset Management and Liquidation Team existing in previous bankruptcy laws The legal status of a QTV is also regulated in detail by the Bankruptcy Law of 2014 and its guiding document, which facilitates the establishment of a new profession and is also the basis for expressing the position and role of the QTV in the banking sector resolving bankruptcy proceedings in Vietnam today However, up to now, after more than six years of establishment, the legal status of QTV is still incomplete Many components of the important legal status of a QV are still missing or have not been clarified, such as: the order of professional performance of the QV has not been developed; the mechanism to ensure remuneration for QTV is not stable; some contents of rights and obligations of the QTV are still general and not yet guided by the by-laws; The conditions for being appointed to participate in the bankruptcy procedure of the QTV are not detailed yet, there are still emotional factors, there is no unit of measurement… This incompleteness of the QTV's legal status makes local enforcement difficult This position has many limitations in practice In fact, up to now, QTV has not been considered as a profession, instead it is just a part-time activity; many bankruptcy cases lasting more than ten years due to the inability to find a solution to the QTV's remuneration; the situation where QTVs refuse to participate when there is a court appointment but there is no mechanism to resolve it; those who have a practicing certificate of QTV lack interest and attachment to work These shortcomings make the operation of QTV in practice not highly appreciated and bankruptcy procedures of enterprises and cooperatives face many difficulties The prolonged time causes loss of effort and money for both debtors, creditors and the state This practice requires a methodical scientific research on the legal status of the trustee and the practice of enforcing the legal status of the trustee at present, in order to make assessments and proposals to improve the legal status of the trustee of this regulation However, from a scientific perspective, so far, research on public trust has been limited, and direct research on the legal status of public trustees on a large scale does not seem to have been done Stemming from the problems in practice and the gap in the above scientific research, the author decided to choose the topic: Legal status of liquidator under current Vietnamese Law on bankruptcy for the doctoral thesis majoring in Economic Law, code 38 01 07 Purpose and mission of the study 2.1 Research purposes The thesis is researched with the aim of proposing solutions to improve the provisions of current bankruptcy law in Vietnam on the legal status of QTV 2.2 Research mission To achieve the above research purpose, the author defines the research tasks of the thesis as follows: First, systematic and historical analysis of the issue of QTV's legal status under bankruptcy law From there, it is possible to draw assessments and comments on the research situation as well as identify the research "gaps" of the thesis topic Second, analyze and clarify theoretical issues related to the legal status of QTV in bankruptcy law such as: concepts; nature; Characteristics; purpose and meaning; constituting the legal status of the QTV under the bankruptcy law Third, refer to and analyze the actual legal status of QTV in some countries around the world and draw experiences for Vietnam Fourth, statistics and analysis of the current status of the provisions of Vietnamese law and the actual implementation of those legal provisions on the legal status of QVs from 2015 to present On that basis, conduct an assessment of the current situation to draw out the achieved results, limitations and causes Fifth, to establish views, develop and propose solutions to improve the legal status of the QTV in accordance with the current bankruptcy law in Vietnam Object and scope of the study 3.1 Research subjects The research object of the thesis is the legal provisions and the implementation of the provisions of the law on the legal status of the QTV 3.2 Research scope - Spatial scope: the theoretical research scope of the thesis includes both in Vietnam and in the world The scope of practical research and solutions of the thesis is all over the territory of Vietnam - Scope of content: the scope of research content of the thesis is jurisprudence, majoring in economic law - Scope of time: the scope of research time of the thesis is determined from 2015 to the end of 2020 The year 2015 is the effective time of the 2014 (current) Bankruptcy Law This is also the time when the regulation on QTV took effect for the first time in practice The year 2020 is the year with the closest report on activities compared to the time of completion of the thesis (2021) At the same time, the solutions proposed by the thesis have a scope of application time oriented to 2025 and extended to 2030 Research Methodology and Methods 4.1 Research methodology The research methodology of the topic is the basic theory of the research method used by the author in the thesis Accordingly, the general methodology used is the Marxist-Leninist philosophy, which includes two specific methodologies: the theory of historical materialism and dialectical materialism In particular, the theory of historical materialism poses a requirement for the historical process of using research methods, and dialectical materialism requires a mutual relationship, inheritance of methods research method Besides, in the current Vietnamese social context, the views of the Party and State on the market economy and the socialist rule of law are also the methodology of the thesis 4.2 Research Methods The study was carried out by many different research methods In which, the author divided into the following two groups of research methods: The group of theoretical research methods includes: Methods of researching secondary documents; Methods of analysis and synthesis; Method of comparative jurisprudence; Historical method The group of practical research methods includes: Methods of researching secondary documents; Analytical and statistical methods; Scientific observation method; Historical method; Professional solution New scientific contributions of the thesis The research results of the thesis have the following new scientific contributions: The thesis contributes to the explanation of new theoretical issues about the QTV and the legal status of QTV Thereby clarifying the content of the legal status of QTV today In addition, the thesis also provides a practical overview of the legal provisions as well as the practice of implementing the provisions of Vietnam's bankruptcy law on the legal status of the QTV Thereby, the thesis has assessed and analyzed the current status of legal regulations as well as the results of the implementation of legal regulations on the legal status of QTV in Vietnam in recent years These research results will contribute to fill in the gaps in the current research on the legal status of QTV in Vietnam The solutions proposed by the research thesis are also important new contributions in terms of science These solutions are drawn from research activities, practical evaluation and will provide more ideas and solutions on perfecting the law and improving the legal status of QTV in Vietnam today.6 The theoretical and practical significance of the thesis 6.1 Logical meaning The thesis contributes to enrich and diversify the scientific values of the legal status of QTV in particular and the law on bankruptcy in general Besides, on the basis of those research results, the thesis promises to be an opening for new research directions related to bankruptcy law and the role of QTV in bankruptcy proceedings 6.2 Practical significance The results of the research on the current situation of the thesis provide managers with an overall picture of the regulation and implementation of the current bankruptcy law provisions on the legal status of QTV At the same time, with the analysis, assessment of practice and proposals for solutions to complete and improve that practice, if agreed by managers, it will become a meaningful reference for improvement projects upcoming way In addition, the thesis can also become a valuable document for teaching at undergraduate and graduate levels in Economic Law; Trade… at certain angles The structure of the thesis The thesis is structured into two groups of contents, including: The first group, the contents related to the thesis content include: Introduction, Conclusion, List of the author's research published related to thesis and reference list The second group includes the main contents of the thesis is structured according to the layout: chapters, 14 sections and sub-sections Chapter OVERVIEW OF RESEARCH RELATED TO THE THESIS 1.1 Research situation in foreign countries Research on the legal status of QTV with the correct word being the legal status of QTV (Liquidator) has been mentioned by many foreign studies These studies are mainly conducted in Western countries (Europe and America) – this is also the region with the most prosperous commercial economy in the world to this day Research on the practice of legal status of QVs in foreign countries is constituted by two major contents: the practice of legal provisions and the practice of law implementation The content of this research is completely dependent on the scope of the study (space and time) Therefore, it is difficult to group together the results of different studies across countries (spatial scope) In general, the studies have shown the legal status, the actual status of law implementation of the countries that are the research area of each work Although this does not bring uniform value, it does provide a very vivid picture of the reality of QTV's legal status in practice Most of the later studies inherit these practical research values The solutions and recommendations proposed by the studies not imply implications for all countries However, its reference value is very large for applied research in each specific country condition For the thesis, the research scope is Vietnam, the study of absorbing and inheriting these research results helps the thesis development process to be more favorable 1.2 researches in our country In the scope of domestic research, the number of works is less than that of foreign countries This completely comes from the objective reasons of the QTV regulation Accordingly, although the bankruptcy law in Vietnam has been present for more than three decades, QTV has only been officially recognized since 2014 and took effect from 2015 That is, until now, just over years the legal status of QTV is implemented in practice In addition, with the characteristic of limited awareness of bankruptcy, many enterprises and cooperatives, when falling into bankruptcy, instead of approaching bankruptcy procedures as prescribed by law, often choose the option of bankruptcy self-closing production and business activities Therefore, in fact, the number of bankruptcy cases resolved by bankruptcy procedures is not large, the presence of QTV is also relatively limited Therefore, studies on this issue are few in number and lack diversity 1.3 Comment on the research topic 1.3.1 Issues related to the thesis topic have been clearly researched, with unified conclusions and inherited and developed by the thesis in the research Firstly, the studies have clarified the theoretical issues of QTV from different perspectives Second, the studies have clarified the current legal provisions on QTV Third, the studies have analyzed and evaluated the practice of implementing the provisions of the law on land management Fourthly, the studies have also suggested solutions to improve the law and improve the effectiveness of the implementation of the law on civil rights 1.3.2 Issues related to the thesis topic but have not been fully resolved, still have many controversies or have not been researched, there are many problems Firstly, the study clarifies the theoretical issues about the legal status of QTV in the context of Vietnam Second, study some cases of QTV's legal status in countries around the world and draw lessons and experience values Third, statistics and analysis of current legal provisions on the legal status of QTV Fourth, analyze and evaluate the practical implementation of legal provisions on the legal status of QTV in Vietnam from 2015 to 2020 Fifth, study the context, propose viewpoints and solutions to improve the law and improve the effectiveness of law implementation on the legal status of QVs in Vietnam 1.4 The issues raised need to be researched by the thesis a Research theory The author identifies the research theory of the thesis as the theory of delegation Accordingly, the trend of narrowing the management scope of the state to establish "a thin state" and increasing the participation of society to establish "a fat society" has been born in the West since the early years the first year of the 19th century and became popular on a world scale today Besides, liberal theory in business; The theory of creditor protection and the theory of economic order protection, social protection, etc are also applied in the research to clarify different aspects of the topic of the thesis b Research question and research hypothesis Question 1: What is the legal status of QTV? Specific questions for research question number 01 include: Question 1.1: What is QTV? What is the legal status of QTV? Question 1.2: How many contents is the legal status of QTV constituted? The research hypothesis for these questions is: The legal status of the QTV is the totality of the characteristics of the position and role; rights and obligations; Liability and relationships between the QTV and other entities are recognized by the bankruptcy law and guaranteed to be implemented in practice The legal status of QTV includes 04 components: position, role; rights and obligations; legal responsibilities and the relationship between QTV and other entities Question 2: How is the legal status of QTV regulated by Vietnam's bankruptcy law and demonstrated in practice? 2.1.2 Characteristics of legal status of asset administrators under bankruptcy law The legal status of QTV has the following characteristics: Firstly, the legal status of QTV is associated with the law on bankruptcy and bankruptcy procedures Second, the legal status of the QTV determines the position of the QTV as an intermediary in resolving bankruptcy proceedings Third, the legal status of the QTV shows the idea of fairness, equality and rationality in bankruptcy settlement Fourth, the legal status of QTV reflects the trend of the times 2.2 The need to recognize the legal status of the asset administrator under the bankruptcy law Firstly, establish the legal status of the QTV with all the components of the legal status in order to ensure professionalism and efficiency when performing the work of supporting bankruptcy proceedings Second, set the conditions for practicing management and liquidation of QTV's assets to ensure the required quality of the profession Third, limit the rights and obligations of the QTV to avoid abuse of power Fourth, establish a relationship between the QTV and other relevant entities in the bankruptcy procedure to ensure a mechanism of respect and smooth coordination in the bankruptcy process 2.3 Contents of legal status of asset administrators under bankruptcy law 2.3.1 Conditions for the asset administrator to participate in bankruptcy proceedings First, the need for the participation of a supervisor in the bankruptcy process itself Second, professional standards and qualifications are suitable for bankruptcy proceedings Third, the QTV's personal conditions in bankruptcy proceedings Fourth, the condition on the ability to undertake multiple bankruptcy proceedings at the same time Fifth, the QTV's own ethical standards 2.3.2 Rights and obligations of the asset administrator 11 First, the rights of QTV This is a group of independent rights – excluding obligations that QTV is recognized, performed and no one can prevent or restrict Second, the QTV's obligations This is a group of simple obligations – there are no rights in them Third, the group has both rights and obligations This is a group where the legal rights and obligations of the QTV are expressed simultaneously in one content and therefore it is difficult or even impossible to separate the rights and obligations of this institution independently 2.3.3 Legal responsibilities of the asset manager First, the civil liability of QTV Second, the administrative liability of QTV Third, the criminal liability of QTV 2.3.4 The relationship of the asset administrator with other entities under the bankruptcy law 2.3.4.1 The relationship between the arbitrator and the court 2.3.4.2 Relationship between QTV and creditors 2.3.4.3 The relationship between the asset manager and the debtor Summary of Chapter Research results of Chapter show that QTV is an intermediary institution in bankruptcy proceedings, in order to manage the bankruptcy on behalf of the parties and develop a plan to recover the subject who is in bankruptcy and pay debts to creditors based on the principles of fairness, equality and reasonableness The legal status of a QTV is understood as the sum total of legal rights and obligations of the QTV, thereby establishing and limiting the QV's ability in bankruptcy proceedings and showing the QTV's position in relation to the QTV other entities on the basis of the provisions of the bankruptcy law The composition of the QTV's legal status includes: conditions to become QTV; rights and obligations of QTV; legal responsibilities of the QTV and the relationship of the QTV with other subjects in bankruptcy proceedings The legal status of the QTV is aimed at establishing a professional institution to help the Court and related parties to resolve the bankruptcy proceedings of the subject who is in a state of bankruptcy The meaning of QTV's legal status includes: establishing a profession named QTV with all the components of legal status in order to ensure professionalism and efficiency when performing support work in the implementation of bankruptcy procedures property; setting the conditions for 12 practicing QTV to ensure the required quality of the profession; limit the rights and obligations of the QTV to avoid abuse of power; establish a relationship between the QTV and other entities involved in the bankruptcy procedure to ensure respect and smooth coordination in the bankruptcy settlement process The results of the theoretical research presented in Chapter 2, of course, cannot cover and deepen all aspects of the theory on the issue of legal status of public trustees However, from a certain point of view of the thesis, these theoretical issues have basically explained the theoretical issues that help to know about public ownership in the legal regulation in general, thereby serving as the basis for the activities of the Government The research and evaluation of practice as well as the results of implementing the legal status of QTV in Vietnam are presented in Chapter of the thesis Chapter THE STATUS OF LEGAL LOCATION OF ADVERTISING MANAGERS FOLLOWING VIETNAM'S BANKRUPTCY LAW AND SMALL IMPLEMENTATION PRACTICE 3.1 History of formation and development of legal status of Asset Administrator Firstly, the coordination mechanism among members of the Asset Management and Liquidation Team under the 1993 Enterprise Bankruptcy Law and 2004 Bankruptcy Law is complicated and ineffective Second, comes from the need for socialization of professional activities Third, stemming from the world's trend on the legal position of QTV in corporate bankruptcy 3.2 Practical provisions of Vietnam's bankruptcy law on the legal status of asset administrators 3.2.1 Practice regulations on conditions for practicing the asset management officer under the bankruptcy law First, the conditions for being granted a QTV practice certificate Second, the conditions for participating in bankruptcy proceedings 3.2.2 Practice regulations on rights and obligations of asset administrators under bankruptcy law 3.2.2.1 Rights of the administrator 13 First, the right to hire individuals and organizations to perform work in accordance with the law Second, the right to receive costs and remuneration Third, the right to request information 3.2.2.2 Obligations of the trustee Firstly, comply with the principles of practice of asset management and liquidation Second, take responsibility for their professional activities in accordance with the law on bankruptcy Third, sign reports and documents on the results of exercising their rights and obligations in accordance with the bankruptcy law Fourth, buy professional liability insurance according to the provisions of law for the case of QTV practicing as an individual Fifth, report to the Department of Justice of the province or centrally run city where the practice is registered on the practice of asset management and liquidation under the guidance of the Ministry of Justice 3.2.2.3 General rights and obligations of the asset administrator a Manage assets, supervise business activities, liquidate assets of insolvent enterprises and cooperatives and handle secured debts b Report on the status of assets, liabilities and activities of enterprises and cooperatives and participate in developing plans to restore business activities of insolvent enterprises and cooperatives First, report on the status of assets, liabilities and activities of enterprises and cooperatives This obligation is confirmed c Representing enterprises and cooperatives in case enterprises or cooperatives not have a legal representative d Request the Judge to carry out the work to ensure bankruptcy procedures 3.2.3 Practice regulations on the liability of asset administrators under bankruptcy law The Bankruptcy Law 2014 and related documents have basic provisions on the legal responsibility of QTV when committing the abovementioned violations These liabilities also include administrative, civil and criminal However, so far, there are no detailed regulations on the level of 14 behavior to apply those responsibilities, so in practice, applying the law on this issue still has many obstacles 3.2.4 Practice regulations on the relationship of asset administrators with other subjects according to bankruptcy law Vietnam's current bankruptcy law also has provisions on the relationship between QTV and other entities in bankruptcy proceedings There are basically four main relationships including: QTV with the People's Court; with creditors; with enterprises, cooperatives that are insolvent and with enforcers have been recognized by law 3.3 Practical implementation of the provisions of Vietnam's bankruptcy law on the legal status of asset administrators 3.3.1 Practical implementation of regulations on conditions for practicing the asset management officer 3.3.2 Practical implementation of regulations on rights and obligations of asset administrators 3.3.3 Practical implementation of regulations on liability of asset administrators under bankruptcy law 3.3.4 Practical implementation of regulations on the relationship of asset administrators with other subjects according to bankruptcy law 3.4 Assessment of the legal status of asset administrators according to Vietnam's bankruptcy law 3.4.1 These achievements Firstly, the current law has basic and comprehensive records on the composition of legal status of QTV Second, the legal status of QTV has been recognized and implemented in practice to varying degrees Thirdly, QTV has made important contributions in bankruptcy management, thereby helping the bankruptcy procedure to go smoothly Fourthly, QTV has actively participated in business recovery activities, helping many enterprises escape bankruptcy and restore production and business activities Fifth, the introduction of QTV helps reduce the workload for the Court 3.4.2 Limitations, problems and causes 15 Firstly, a number of issues about the legal status of QTV have not been regulated by current law or detailed regulations, leading to lack of basis for practical implementation Second, the problem of representation in the asset inventory has been regulated but lacks a mechanism to ensure implementation Third, funding and remuneration for QTV still have many gaps that have not been remedied Fourth, the QTV is not allowed to directly exercise the right to apply emergency measures in an urgent situation to preserve the bankruptcy property, but only has the right to request the judge to apply, so it loses the timeliness of the act Fifth, the presence of QTV in bankruptcy proceedings is not high Sixth, there is a lack of consistency in the state management of land management Seventh, the monitoring of QTV's activities is not effective Conclusion Chapter Research results in Chapter 03 show that the legal status of QTV in Vietnam only appears in the Bankruptcy Law of 2014 and documents related to this law Therefore, it can be asserted that this is a new problem Accordingly, a QTV is recognized as an individual with the function of managing and liquidating assets in the bankruptcy proceedings of enterprises and cooperatives, appointed by the judge or proposed by the petitioner for bankruptcy The current legal provisions on the legal status of QTV are also relatively complete with components as analyzed, including: conditions for participating in bankruptcy proceedings; rights and obligations of the QTV in bankruptcy proceedings; legal responsibilities of the QTV and its relationship with other entities However, this legal recognition still has many incomplete problems Specifically, there are seven issues as follows: First, the regulations on the order and procedures of QTV's operation have not been issued; Second, the regulation on information content on QTV registered to practice is still incomplete; Thirdly, although the current law has provisions on the right to appoint a QTV of the Court and the right to request a QTV of the applicant to open bankruptcy proceedings, there are no regulations guiding the settlement of bankruptcy proceedings case of 16 conflict between these two subjects in the selection of the asset administrator; Fourth, the moral condition of QTV has been mentioned by the current bankruptcy law, but there is no specific regulation; Fifth, the QTV's refusal to participate in the bankruptcy procedure when it is appointed has not yet provided a document guiding the settlement; Sixth, the issue of representation in the asset inventory has been regulated but lacks a mechanism to ensure implementation; Seventh, funding and remuneration for QTV still have many gaps that have not been remedied The causes of the above limitations are determined to include: First, objective reality is constantly changing, many business and commercial relationships are established, subjects have unintentionally or intentionally complicated behaviors complicated bankruptcy proceedings beyond recognition of current law; Second, the capacity to formulate legislation on bankruptcy is still limited; Third, the coordination of relevant agencies such as Courts, Civil Judgment Enforcement Agencies, Administrative Judicial Agencies in formulating and promulgating detailed guidelines for implementing the legal status of the State QTV is not good yet Chapter COMPLETE LAW AND ADVANCED THE LEGAL POSITION OF ACCOUNTANT MANAGERS UNDER CURRENT VIETNAM BANKROLL LAW 4.1 The context of building a complete solution and improving the legal status of asset administrators in Vietnam today Firstly, the context of the epidemic's impact is complicated both domestically and globally Second, the context of international integration is deepening Third, the context of the 2014 Bankruptcy Law and its guiding documents revealed many weaknesses Fourth, the context of the country's period of strong economic development 4.2 Requirements set forth for the completion and enhancement of the legal status of asset administrators according to the current bankruptcy law in Vietnam 17 4.2.1 Completing and enhancing the legal status of asset administrators according to Vietnam's bankruptcy law needs to be suitable to the country's actual situation and conditions Firstly, the solution to complete and improve the legal status of QTV must be consistent with the current legal view of the market economy Second, the solution to complete and improve the legal status of the QV must be consistent with the legal relationship between the state and society in the current period Third, the solution to complete and enhance the legal status of QTV must be consistent with the provisions recorded in other relevant legal documents 4.2.2 Solutions must be reasonable and feasible This principle identifies solutions that must ensure novelty – an indispensable part of the solution, but also practical This means that this novelty must be based on actual implementation conditions to be applicable instead of just proposed on paper 4.2.3 The solutions must ensure the inheritance of reasonable historical values in addition to the selective absorption of international experience This view determines that solutions must be built on the basis of information filtering to absorb and inherit instead of just subjective wills This not only ensures rich and logical solutions, but also makes the application of the solution easier and more effective 4.2.4 Solutions must be built on the basis of respect for the rights of stakeholders This principle defines solutions to complete the law on the legal status of the QTV that must be carried out when putting the problem in a whole of the bankruptcy legal relationship, which cannot be isolated independently Because after all, that legal status only makes sense when placed in such a whole 4.3 Solution to complete and improve the legal status of asset administrators according to current Vietnamese bankruptcy law 4.3.1 Solutions to perfect the law on the legal status of asset managers 18 4.3.1.1 Completing the law on the order and procedures of operation of asset administrators First, collect the QTV's operating process in detail Second, record in detail and in detail the reporting order and procedures and communication between the QTV and the subjects 4.3.1.2 Completing the law on information content of asset management registered to practice Firstly, supplementing regulations on disclosure of professional and professional information Second, supplement regulations on disclosure of information about experience participating in bankruptcy proceedings Third, supplement regulations on disclosing information about QTV's practice points Fourth, supplement regulations on disclosure of enterprise information owned or practiced by QTVs 4.3.1.3 Completing the law on appointing an asset administrator Firstly, the legal point of view should be unifying that the selection of QTV should give priority to entities who have the right to file a bankruptcy petition Second, it is necessary to stipulate that in case the Court determines that the proposed QTV does not meet the requirements to participate in such bankruptcy proceedings, priority should be given to the other applicant Third, there should be a uniform regulation on appointing a replacement QTV in case the QTV is changed Fourth, it is necessary to improve the law in case the judge appoints more than one QTV 4.3.1.4 Completing the law on the ethical standards of asset administrators Firstly, it is necessary to recognize and apply the practice scoring for QTV as soon as possible Second, recognize ethical standards related to QTV's practice history Third, record the survey and assessment of the QTV of the parties involved in the bankruptcy procedure 19 4.3.1.5 Completing the law on the asset administrator's right to refuse to participate in bankruptcy proceedings Firstly, if the QTV refuses to participate in the nominated bankruptcy proceedings because of personal issues, an explanation is required before the designator, the proposal and at the same time will be subject to deduction of points in the professional liability section Second, in case the QTV refuses for a legitimate reason, the law also needs to have clearer explanations 4.3.1.6 Completing the law on representatives of enterprises and cooperatives when there is no representative 4.3.1.7 Completing the law on funding and remuneration for asset administrators Firstly, detailing how to calculate working hours to pay remuneration and expenses for QTV Secondly, there should be regulations allowing the Court to decide to sell assets of enterprises and cooperatives right at the time of opening bankruptcy proceedings to serve bankruptcy costs, including remuneration for QTV Thirdly, in the event that if the sale of assets is not recorded to ensure the funding for bankruptcy proceedings, the current law may prescribe mechanisms to encourage agreement on payment of remuneration and expenses to the QTV in the creditors' meeting 4.3.1.8 Completing the law on supervision of activities of asset administrators in the bankruptcy settlement process First, the bankruptcy law needs to have a clear delineation of the supervisory authority of the judge and the civil judgment enforcement agency Second, the bankruptcy law needs to supplement specific provisions on cases where judges and judgment enforcement agencies are allowed to request QTV to report Third, the bankruptcy law needs to supplement regulations on determining the reporting time limit of QTV in some specific cases Fourth, the bankruptcy law needs to add a method of monitoring QTV's activities 20 Fifth, the bankruptcy law needs to supplement regulations defining the responsibilities of civil judgment enforcement judges and enforcers in the supervision of civil service 4.3.2 Solutions to improve the legal status of asset administrators in bankruptcy proceedings 4.3.2.1 Strengthen propaganda and dissemination of bankruptcy law and the law on legal status of asset administrators 4.3.2.2 Improve the capacity to issue legal documents related to the legal status of asset administrators in particular and the law on bankruptcy in general Improve the capacity of promulgating legal documents on the legal status of QVs in particular and law enforcement 4.3.2.3 Raising awareness and skills of subjects participating in bankruptcy proceedings 4.3.2.4 Building an information exploitation center to serve bankruptcy proceedings Conclusion Chapter The research results of Chapter 04 show that, in the current political, economic and social context, it is an urgent matter to perfect the law on the legal status of the public trustee However, to ensure effective implementation, the proposed solutions need to adhere to principles such as: the principles must be suitable with the current awareness and legal conditions of Vietnam; principles must be suitable to current economic and social conditions of Vietnam; solutions must be reasonable and feasible; solutions must ensure inheritance of rational values of history in addition to selective absorption of international experience and solutions must be built on the basis of respecting the rights of stakeholders On the basis of those principled views, the proposed solutions include: perfecting the law in the following aspects: perfecting the law on regulations on the order and procedures of QTV operations; perfecting the law on contents of information about QTVs registered to practice; perfecting the law on appointment of QTV; perfecting the law on ethical standards of QTV; perfecting the law on QTV's right to refuse to participate in bankruptcy proceedings; perfecting the law on representation of enterprises and 21 cooperatives when there is no representative; perfecting the law on funding and remuneration for QTV; perfecting the law on supervision of QTV's activities in the bankruptcy settlement process Solutions to improve the legal status of the QTV include: Strengthening propaganda and dissemination of the bankruptcy law and the law on the legal status of the QTV; Improve the capacity of promulgating legal documents related to the legal status of QTV in particular and the bankruptcy law in general Raise awareness and skills of subjects participating in bankruptcy proceedings; Building an information exploitation center to serve bankruptcy proceedings The solutions are built on the basis of assessment of legal practice and implementation of current Vietnamese bankruptcy law on corporate governance To be able to be applied in practice, first of all, these solutions need consensus from managers and related stakeholders After that, it is necessary to have the determination to apply it in practice, from making legal policies to creating enforcement mechanisms in practice And finally it's a matter of time, too abrupt changes suffer the same consequences as sticking to the old stuff Therefore, the solution application also needs a suitable roadmap CONCLUDE The research results of the thesis show that the legal status of the asset administrator is the sum total of the legal rights and obligations of the asset administrator, thereby establishing as well as limiting the ability of the asset administrator in the legal proceedings bankruptcy and show the position and role of the asset administrator in relation to other subjects on the basis of the provisions of the bankruptcy law The laws of most countries in the world have recorded this institution with different natures of content However, in general, constituting the legal status of an asset administrator is concurred by the following four components: conditions for practicing as an asset administrator; rights and obligations of the asset administrator; legal responsibilities of the asset administrator and the relationship between the asset administrator and other subjects in the bankruptcy proceedings Basically, the legal recognition of the legal status of an asset administrator has an important purpose and meaning when establishing an independent profession and plays a huge role in asset 22 management and liquidation intermediary in general debt settlement of bankruptcy proceedings In Vietnam, the legal status of an asset administrator was first recognized in 2014 and came into effect in 2015 The elements constituting the legal status of this institution are recognized in the Law on Destruction 2014 and Decree No 22/2015/ND-CP detailing the implementation of a number of articles of the Bankruptcy Law regarding asset administrators and the practice of asset management and liquidation In general, 04 elements constituting the legal status of an asset administrator have been recognized to varying degrees by actual law and become the legal basis for the legal status of an asset administrator to be implemented in fact However, the detailed provisions on the legal status of the asset administrator have not been clarified or recorded, making the legal records basically cover, but in detail, There may still be gaps in the recognition of the asset administrator's legal status On the basis of those shortcomings of the legal record, the implementation of the legal status of the asset administrator still has many obstacles and limitations In fact, from the issue of practice registration procedures; ethical standards; basis for appointment to advance funding; payment of remuneration; The right and obligation to apply emergency measures and consider the liability of the asset administrator are facing many problems due to the lack or lack of guiding documents This is the main reason leading to the result that the number of asset administrators in Vietnam is not large at present; The presence of asset administrators in bankruptcy proceedings is not high and those who are registered to practice as asset managers lack interest in the profession On the basis of those limitations, the thesis proposes two groups of solutions: perfecting the law and improving the legal status of asset administrators in bankruptcy proceedings in Vietnam today In particular, it is mainly aimed at proposing detailed solutions to improve the law on the legal status of the asset administrator - because this is the prerequisite basis for determining the quality of the asset administrator's presence in practice The author himself realizes that the results of this study basically reflect the author's serious research process and promise to bring certain scientific and practical values to the issue of legal status of Vietnam asset 23 manager However, there are still a number of issues according to the author that must continue to be considered and researched in the coming time: - The legal status of the asset administrator over time will reveal many issues that need to be resolved This comes in response to an increase in bankruptcy proceedings, which in turn increases the presence of asset managers The more that presence, the more fully the problems are revealed Therefore, the thesis is only a slice of the time period over 06 years and there should be more such slices in future timelines - The legal status of the asset administrator should be clarified in typical cases in order to clearly see the "real combat" problems At the same time, it is also the best way to verify between legal regulations and practice The author determines that this is the unfortunate limitation of the thesis, stemming from the intended research scope Therefore, the author recommends that academics consider research from this perspective - In the future, it is possible that the law will recognize bankruptcy procedures that apply to both production and business individuals At that time, the administrator's opportunity to participate expands However, this object will bring certain characteristics to the legal status of the asset administrator Therefore, the author predicts this very interesting research trend for your consideration 24 PUBLISHED WORKS RELATED TO THE THESIS Nguyen Thai Truong (2015), Some issues have not been thoroughly revised in the Law on Bankruptcy 2014, Journal of Democracy and Law, Issue No.3 (276) Nguyen Thai Truong (2021), Supervising activities of liquidator in bankruptcy resolution of enterprises and cooperatives, Journal of Democracy and Law, Thematic Issue No.4, 2021 Nguyen Thai Truong (2021), Completing the provisions of Vietnamese law on the institution of liquidator, Journal of Industry and Trade, No 17July, 2021 ... scope: the theoretical research scope of the thesis includes both in Vietnam and in the world The scope of practical research and solutions of the thesis is all over the territory of Vietnam - Scope... issues raised need to be researched by the thesis a Research theory The author identifies the research theory of the thesis as the theory of delegation Accordingly, the trend of narrowing the... century and became popular on a world scale today Besides, liberal theory in business; The theory of creditor protection and the theory of economic order protection, social protection, etc are also