Expenses for asset managers, asset management, and liquidation businesses:
1. Expenses for asset administrators and asset management and liquidation enterprises are paid from the asset value of insolvent enterprises and cooperatives. Expenses for asset managers, asset management, and liquidation businesses include remunerations for asset managers, asset management and liquidation businesses, and other costs.
2. Remuneration is calculated based on the following bases:
a) Time spent by the Administrator performing tasks;
b) The Asset Administrator's efforts in performing his duties;
c) Results of performing duties of the Asset Administrator.
3. Remuneration is calculated based on one or more of the following methods:
a) Working hours of the Administrator;
b) Comprehensive remuneration package;
c) The level of remuneration is calculated as a percentage of the total value of assets of the enterprise or cooperative declared bankrupt obtained after liquidation.
4. The remuneration level is determined specifically as follows:
a) In cases where the People's Court issued a decision to suspend bankruptcy proceedings according to the provisions of Article 86 of the Bankruptcy Law, the remuneration will be determined by the Judge conducting the bankruptcy proceedings, the Administrator, and the enterprise managing the liquidation agreed assets based on consideration and application of the basis specified in Clause 2 and the method specified in Clause 3 of this Article;
b) In cases where an enterprise or cooperative is declared bankrupt according to the provisions of Clause 3, Article 80, Clause 4, Article 83, and Clause 7, Article 91 of the Bankruptcy Law, the remuneration level is determined:
|
No. |
Total value of assets obtained after liquidation |
Mức thù lao |
|
1 |
Under 100 million VND |
5% of total asset value obtained after liquidation |
|
2 |
From 100 million VND to 500 million VND |
5 months base salary according to the law on base salary for officials, civil servants, public employees, and armed forces, plus 4% of the value of assets obtained after liquidation exceeding 100 million VND |
|
3 |
Above 500 million VND up to 1 billion VND |
20 months base salary according to the law on base salary for officials, civil servants, public employees, and armed forces, plus 3% of the value of assets obtained after liquidation exceeding 500 million VND |
|
4 |
Above 1 billion VND up to 10 billion VND |
36 months base salary according to the law on base salary for officials, civil servants, public employees, and armed forces, plus 2% of the value of assets obtained after liquidation exceeding 1 billion VND |
|
5 |
Above 10 billion VND up to 50 billion VND |
The remuneration level for the total value of assets obtained after liquidation up to 10 billion VND is determined according to item 4 of this table, plus 0.5% of the value of assets obtained after liquidation exceeding 10 billion VND |
|
6 |
Above 50 billion VND |
The remuneration level for the total value of assets obtained after liquidation up to 50 billion VND is determined according to item 5 of this table, plus 0.3% of the value of assets obtained after liquidation exceeding 50 billion VND |
c) In cases where an enterprise or cooperative is declared bankrupt according to the provisions of Point b or Point c, Clause 1, Article 95 of the Bankruptcy Law, the remuneration includes the remuneration level determined on a case-by-case basis as prescribed in Point b Clause 4 of this Article plus the remuneration for supervising the business activities of the enterprise during the process of insolvency of the enterprise or cooperative implementing the business recovery plan.
d) In the case of enterprises and cooperatives that have completed the business recovery plan specified in Point a, Clause 1, Article 95 of the Bankruptcy Law, the remuneration will be determined by the Judge conducting the bankruptcy procedure, the asset management members and enterprises managing and liquidating assets agree on the basis specified in Clause 2 and the method specified in Clause 3 of this Article.