Resolution No. 03/2005/NQ-HDTP of Hanoi, April 28, 2005

RESOLUTION

OF THE JUDGES’ COUNCIL OF SUPREME PEOPLE’S COURT NO. 03/2005/NQ-HDTP DATED APRIL 28, 2005 GUIDING THE IMPLEMENTTION OF A NUMBER OF PROVISIONS OF THE LAW ON BANKRUPTCY

THE JUDGES’ COUNCIL OF SUPREME PEOPLE’S COURT

Pursuant to  the Law on the Organization of People’s Courts;
In order to execute properly and unified the Law on Bankruptcy (hereinafter referred as LoB);
After having unified opinion of Director of Supreme People’s Procuracy and Minister of Justice;

RESOLVE:

I. ON CHAPTER I – GENERAL PROVISIONS OF LoB
1. Regarding provisions in Article 2 of the LoB
1.1. LoB is applied to enterprises, cooperatives and unions of cooperatives (cooperatives and unions of cooperatives collectively referred to as cooperatives) established and operating under the provisions of the law provisions of Vietnam; namely:
a. State-owned companies;
b. One member limited Liability Company;
c. Two members or more Limited liability company;
d. Shares holding company;
đ. Partnerships;
e. Private enterprise;
g. Enterprises of political organizations, political- social organizations;
h. Cooperatives;
i. Unions of cooperatives;
k. The joint venture enterprises;
l. Enterprises with 100% foreign owned capital;
m. The types of other enterprises and cooperatives under the provisions of the law of Vietnam.
1.2. Upon receipt of the petition for bankruptcy procedures for enterprise, cooperative, the court must examine the specific list defined by the Government on special enterprises directly serving defense and security; enterprises and cooperatives operating in the financial sector, banking, insurance and other areas regularly and directly supplying products and essential public utility services if it has such enterprise, cooperative or not, to do as follows:
a. If the enterprise or cooperative petitioned for bankruptcy procedures to be of the list specified by the Government, the court shall only accept pertition for opening of bankruptcy procedures when having all the conditions to apply defined by the Government for the enterprise, cooperative. After accepting the petition for bankruptcy procedures, the implementation of bankruptcy procedures must be strictly in accordance with provisions of the Government on the execution of LoB for this enterprise, cooperative.
b. If the enterprise or cooperative that is required for opening bankruptcy procedures is not of the list specified by the Government, the court shall conduct bankruptcy procedures under the provisions of LoB, the legal documents guide the implementation of LoB and guide this Resolution.
2. Regarding the provisions of Article 3 of the LoB
2.1. Enterprises, cooperatives shall be considered as falling into bankruptcy state when having all the following conditions:
a. Having due debts.
The due debts must be the unsecured debts or be secured a part (only calculating the non-secured part) which have been clearly confirmed by the parties, with full papers and documents to prove and not having dispute;
b. The creditor has demand for payment, but enterprises, cooperatives can not afford for payment.
Requirements of creditors for being paid the due debts must have bases to prove that creditors had asked for, but they are not paid by enterprises, cooperatives (such as the written requirement for being paid due debts of the creditors, the written reply asking for a delay of paying debts of enterprises, cooperatives …).
3. Regarding Article 7 of the LoB
3.1. When the object required for opening of bankruptcy procedures is cooperative, after receiving application for opening of bankruptcy procedures, the court must examine the place to register business of cooperative in order to determine the jurisdiction of Court, it is as follows:
a. In case cooperative registered business in the enterprise registration agency of district, town and provincial city, the People’s Court of district, town and provincial city (hereinafter referred the district-level People’s Court) has jurisdiction to conduct the bankruptcy procedures for the cooperative;
b. In the case the cooperative registered business in the enterprise registration agency of province and city under central authority, the People’s Court of province and city under central authority (hereinafter referred to as the provincial-level People’s Court) has jurisdiction to conduct bankruptcy procedures for the cooperative.
3.2. In case of necessary, the provincial-level People’s Court shall take up conducting bankruptcy procedures for the cooperatives under the jurisdiction of the district-level People’s Court including:
a. The Cooperatives requested for bankruptcy procedures having their branches, representative offices, real estates, creditors in many different districts;
b. The Cooperatives requested for bankruptcy procedures having their branches, representative offices, real estates, creditors or debtors in foreign countries;
c. The Cooperatives requested for bankruptcy procedures having the debts which are in dispute to be resolved;
d. The Cooperatives that are concerned bodies of the cases to be suspended by the Court made the decision to open bankruptcy procedures for the cooperatives or in other complex cases (required to declare the transactions of enterprises, the cooperatives in clause 1 of Article 43 of the LoB as invalid …).
3.3. When the cooperatives required for opening bankruptcy procedures of one of the cases guided in subsection 3 of this Section 3.2, it shall be settled as follows:
a. Provincial-level People’s Court sends written request to the district-level People’s Court to transfer the written request for opening bankruptcy procedures and papers and documents accompanied for the provincial-level People’s Court to carry out the bankruptcy procedures. Where the district-level People’s Court found that it can solve the case itself, it shall send a written notice to the provincial-level People’s Court and continue to conduct bankruptcy procedures;
b. District-level People’s Court sends a written request and application for opening of bankruptcy procedures and papers and documents accompanied to the provincial-level people’s court for conducting bankruptcy procedures. Provincial-level People’s Courts must accept the application for opening of bankruptcy procedures to conduct the bankruptcy procedures;
c. The transfer of application for opening bankruptcy procedures and papers and documents accompanied from the district-level People’s Court to the provincial-level People’s Court must be notified the applicant for opening of bankruptcy procedures.
4. Regarding Article 8 of the LoB
4.1. After accepting the application for opening bankruptcy procedures and documents, documents attached, if found that the implementation of bankruptcy procedures must be in charge of by the group of Judges, the Judge assigned to solve the application reports to the Chief Economic Court of the provincial People’s Court to be appointed two additional judges to join the group of judges in charge of bankruptcy procedures. Judges assigned to solve the application is assigned to be the head of the group of judge in charge of conducting bankruptcy procedures.
4.2. The cases required to be solved by a group of Judges in charge of conducting bankruptcy procedures include:
a. In the course of carrying out bankruptcy procedures, it needs to settle disputes of debts; needs to declare the transaction of enterprises, cooperatives prescribed in clause 1 of Article 43 of the LoB as invalid; settle the case suspended which the enterprises or cooperatives are concerned bodies to the case decided by the Court made decision to open bankruptcy procedures for the enterprises, cooperatives;
b. The Enterprises, cooperatives required for opening bankruptcy procedures having their branches, representative offices, real estates, several creditors or debtors in different provinces;
c. The Enterprises, cooperatives required for opening bankruptcy procedures having their branches, representative offices, assets, creditors, or debtors in foreign countries or in other complex cases.
4.3. In the case the district-level People’s Court is conducting bankruptcy procedures, but found that the continuity of bankruptcy procedures is of one of the cases required to be in charge by a group of Judges as guided in subsection 4.2 of this Section 4, send a written request for transferring the dossier of solving the bankruptcy to the provincial-level People’s Court. Provincial-level People’s Court accepts and carries out the bankruptcy procedures in accordance with provisions of the LoB and the guidance in this Resolution.
4.4. Changing, supplementing judges to establish a group of Judges or withrawing Judges from the group of Judges.
a. In the course of carrying out bankruptcy procedures that the judge who is in charge of conducting bankruptcy procedures can not continue to carry out his/her tasks for legitimate cause, the Chief judge of District-level People’s Court or the Chief judge of Economic Court of the Provincial-level People’s Court appoints another judge for replacement;
b. In the case of conducting bankruptcy procedures at the beginning only be in charge by a judge, but in the process of conducting bankruptcy procedures found that the conducting of bankruptcy procedures is of one of the cases guided in subsection 4.2 of this Section 4 of this section, the judge who is being in charge of conducting bankruptcy procedures reports to the Chief Judge of Economic Court of the provincial-level People’s Court for appointing two additional judges to join the group of judges to be in charge of conducting bankruptcy procedures;
c. In the case of conducting bankruptcy procedures at the beginning be in charge by a group of Judges, but in the process of conducting bankruptcy procedures found that the continuity of conducting bankruptcy procedures only needs one judge in charge of, the Judges group head report to the Chief Judge of Economic Court of the provincial-level People’s Court to withdraw the two judges from the group of Judges;
d. The decision on change, supplementation, or withrawal of the judges in charge of conducting bankruptcy procedures must be notified under the provisions of Article 29 of the LoB.
4.5. In the course of carrying out bankruptcy procedures, if detecting criminal signs, the judge shall send official dispatch together with copies of the documents relating to the crime to the People’s Procuracy at the same level to consider the criminal prosecution, accused prosecution and proceed with bankruptcy procedures under the provisions of the LoB and the guidance in this Resolution. Copies of documents relating to the crime must be certified by the judge or other competent person assigned by the chief Judge of Court and stamped by the Court.
5. Regarding the provisions of Article 9 of the LoB
5.1. After receiving the application for opening bankruptcy procedures and in the course of studying records of the bankruptcy case, the judge must send official dispatchs to individuals, agencies, and organizations specified in clause 2 of Article 9 of LoB requiring them to appoint personel to join the group of management and liquidation of assets. In official dispatch, it must indicate clearly the requirements on qualification, professional skill, and natures of the enterprise, cooperative requested for opening of bankruptcy procedures and require appointing the specific representatives (name, age, and position, professional skill) to join the group of management and liquidation of assets. After receiving the official letter on appointment of personel to join the group of management and liquidation of assets, if it deems that the appointee does not meet the requirements of qualification, professional skill, the judge shall require the individual, agency, and organization to appoint another for replacement.
5.2. Where necessary, trade union representative, representative of workers shall join in the group of management and liquidation of assets as prescribed at point đ, clause 2 of Article 9 of the LoB in the case of applicants for opening of bankruptcy procedures as representative of workers, trade union representative, or where the trade union is required to participate in.
5.3. Where necessary, representatives of the professional bodies shall join the management and liquidation of assets as prescribed at point đ, clause 2 of Article 9 of the LoB in the case of enterprise, cooperative requested for bankruptcy declaration operates in the specific sector (eg insurance, audit, banking …).
II. ON CHAPTER II – APPLICATION AND ACCEPTING APPLICATIONS FOR OPENING OF BANKRUPTCY PROCEDURES OF LoB
1. Regarding the provisions of Article 21 of the LoB
1.1. Where the applicants for opening of bankruptcy procedures must make advance payment of bankruptcy fees, the court shall determine the level to be paid in accordance with the law provisions on legal cost and charge of court. While having not had new regulations of the State on charges of bankruptcy, the court shall, pursuant to Article 41 of Decree No.189/CP on 23-12-1994 of the Government guiding the implementation of the Enterprises Bankruptcy Law in 1993 on bankruptcy costs, Article 34 of Decree No.70/CP of the Government on legal cost and charge of court to determine the advance payment of bankruptcy fees in each specific case.
1.2. In case of bankruptcy fees made advance payment by the state budget prescribed in clause 3 of Article 21 of the LoB, the Court shall accept the application for opening bankruptcy procedures and conduct the bankruptcy procedures in accordance with provisions of LoB and directions provided in this Resolution. After having the decision to open bankruptcy procedures, the judge allows enterprise, cooperative to make a certain number of acts (recovery of debts, sale of assets …) to get cash for making advance payment of bankruptcy fees.
2. Regarding the provisions of Article 27 of the LoB
After accepting the application for opening bankruptcy procedures, the judge must consider the application and other papers, documents attached, and require the enterprise, cooperative which falls into bankruptcy state to send a written report to review if the enterprise or cooperative falls into one of the cases specified in Article 27 of LoB or not to settle as follows:
2.1. In the case enterprise, cooperative is the body required to execute civil judgment on property, the judge must give written notice to the enforcement agency of civil judgments and request such agency to make decision to suspend the enforcement of civil judgment.
2.2. In the case enterprise, cooperative is the body concerned in case requesting enterprise, cooperative to perform the property obligations, the judge must give written notice to the court that is settling the case and request such Court to make the decision to suspend settlement of the case.
2.3. In case of having secured creditors to request for the handling of security assets of the enterprise, cooperative, the judge must inform them of general principles of the handling of security assets of the enterprise, the cooperative that is temporarily being suspended. Just in case having all the following conditions, the judge may allow handling security assets of the enterprise or cooperative for the secured creditors:
a. Assets required for handling is the security assets for due debts;
b. The handling of the security assets does not affect the production and business activities of enterprise, cooperative;
c. The person who requests for handling security assets must have written request, which presents the reasons for requesting for handling security assets, raises the legitimate reason, and the handling of security assets of the enterprise for them is necessary.
3. Regarding the provisions of Article 29 of the LoB
3.1. Court’s decision on opening of bankruptcy procedures must be sent to the enterprise, cooperative falling into bankruptcy state, the People’s Procuracy of the same level and was published in the local paper where the enterprise or cooperative falling into the bankruptcy state locates its headquarter, daily newspaper of central agency in three consecutive issues.
a. Local newspaper where enterprise or cooperative falling into the bankruptcy state has its head office is the press of the Party Committee of Province, the centrally-run cities or other local newspapers in accordance with the Law on Press and published many issues. In the event that there is no newspaper in that locality, it can publish on the newspaper of other locality, but it must be issued on that locality;
b. Daily newspaper of the central is the newspaper of a central body issuing daily across the country.
3.2. For creditors, the debtors of the enterprise, cooperative falling into bankruptcy state, the court shall only notify in writing to them in the form attached to this Resolution.
III. ON CHAPTER III – OBLIGATIONS OF ASSETS OF LoB
1. Regarding the provisions of Article 33 of the LoB
Obligations of assets of enterprise, cooperative which fall into bankruptcy state is determined by:
1.1. Total requirements of the creditors demanding enterprise, cooperative falling into bankruptcy state to perform obligations of unsecured assets (including mature and immature), that these obligations are established, generated before the time the Court accepts the application for opening bankruptcy procedures;
1.2. Total requirements of the secured creditors demanding enterprise, cooperative falling into bankruptcy state to perform obligations of secured assets (including mature and immature), that these obligation are established, generated before the time the Court accepts the application for opening bankruptcy procedures, but the priority right of payment has been canceled.
2. Regarding the provisions of Article 34 of the LoB
Where the judge issue decision to apply liquidation procedures for enterprise, cooperative, the undue debts at time of opening the liquidation procedure is handled according to the principle of amount of principal plus interest ( if any) calculated to the date the court issues decision to open the liquidation procedure.
Example: Company A signed a contract of loan credit witht the Bank B 5 billion dong for a period of 12 months at an interest rate of 1% per month. The contract is effective from 01-6-2004 to the end of 31-5-2005. If the contract is normally done, when it is mature, total amount of principal plus interest will be: 5 billion dong + (5 billion dong x 12 months x 1%/month = 5 billion 600 million dong. Because Company A falled into bankruptcy state and the court issued the decision to open the bankruptcy procedures for company A. On 01-3-2005, the court decided to to open the liquidation procedure for Company A. So Company A’s debt is calculated as follows:
– The principal debt is 5 billion dong;
– Interest is calculated to the end of 02-2005 as 5 billion dong ´ 9 months ´ 1%/month = 450 million dong;
– The total amount that Company A owns the Bank B is 5 billion 450 million dong.
3. Regarding the provisions of Article 36 of the LoB
Enterprises that have been applied special measures on assets by the state (investment of capital, machinery and equipment, regulation of the debts …) in order to restore business operations, but still not recovered, required to apply the liquidation procedures, before the division of property is made under the provisions of Article 37 of the LoB, the court must decide to refund value of the property has been applied special measures to the State as follows:
3.1. If special measure which is applied to property is money, the court must decide to refund exactly the amount invested by the State without interest.
3.2. If special measure which is applied to property is movable asset, real estate but is not money (land use rights, buildings, machinery, equipment,…), the court must decide to refund to the State the property value by the price at the time of applying the special measure, unless otherwise specified by state or between the state and enterprise, cooperative have agreed otherwise on this return.
4. Regarding the provisions of Article 38 of the LoB
4.1. The obligations which are not money are the obligations that under the provisions of the law, enterprise, cooperative must perform to those who have the rights or others must perform for enterprise and cooperative but they have not been conducted and the value of such obligations has not been calculated into money.
4.2. Where the obligation is not money that enterprise, cooperative must perform to those who have the rights and they have requested, it shall determine the value of such obligations at the time of opening bankruptcy procedures into money for including into obligations of assets of the enterprise or cooperative.
For example: according to the contract to be concluded, the enterprise A shall transport for enterprise B a number of machines from Hanoi to Ho Chi Minh City and vice versa enterprise B installs for enterprise A (installation labour) a production line. Enterprise B has implemented its obligations, but Enterprise A has not implemented its obligations and fall into bankruptcy state. Enterprise B has requested for valuation of installation labour for the production line for the enterprise to include in obligations of the assets of enterprise A, the court must determine the value of such obligations at the time of decision opening bankruptcy procedures and include in obligations of assets of the enterprise A.
4.3. In case of detecting obligations which are not money that others are obliged to perform for the enterprise, cooperative falling into bankruptcy state, determine the valuation of such obligations at the time of opening bankruptcy procedures into money to include in credit assets of the enterprise or cooperative.
5. Regarding the provisions of Article 39 of the LoB
5.1. Regarding the provisions of clause 1 of Article 39 of the LoB.
In the case many enterprises, cooperatives have joint obligations on a debt that one or all of the enterprises or cooperatives falling into bankruptcy, if the creditor requires a certain enterprise, cooperative among the enterprises or cooperatives to pay debt, the repayment shall be made by such enterprise, cooperative. Then such enterprise, cooperative has the right to request enterprises, cooperatives having joint obligations on the debt has been paid to refund it their portion of obligations which have been paid as a substitute.
5.2. Regarding the provisions of clause 2 and clause 3 of Article 39 of LoB.
a. In the event the guarantor falls into bankruptcy state, and the guarantee does not fall into bankruptcy state, then the guarantee must perform its obligations of assets for the person who receives guarantee (not recorded the person who receives guarantee to the list of creditors for the guarantor);
b. In the case the guarantee falls into bankruptcy state, but the guarantor does not fall into bankruptcy state or in the case both the guarantor and the guarantee fall into bankruptcy state, then the guarantor must perform obligations of assets for the person who receives guarantee (not recorded the person who receives guarantee to the list of creditors for the guarantee falling into bankruptcy).
IV. ON CHAPTER IV – THE MEASURE PRESERVING PROPERTY OF LOB
1. Regarding the provisions of Article 44 of the LoB
1.1. During the court conducting bankruptcy procedures, if it is detected that enterprise, cooperative falling into bankruptcy state implements one of the transactions and within the period specified in clause 1 of Article 43 of the LoB, the unsecured creditors, the group of managing and liquidating assets may request the court to declare that the transaction is invalid. The request must be made in writing. Attached to the written request are the papers and documents to prove that their claims have grounds. Upon receiving the written request and papers, documents attached, the judge conducting bankruptcy procedures examines, reviews and if considering the request deems ground, in accordance with the law, shall issue the decision to declare that the transaction is invalid.
1.2. The Judge must send the decision to declare the transaction of enterprise, cooperative prescribed in clause 1 of Article 43 of the LoB as invalid to the group of managing and liquidating assets and parties to the transaction. The head of the group of managing and liquidating assets shall organize to execute the decision of the court under the provisions of clause 2 of Article 44 of the LoB.
2. Regarding the provisions of Article 45 of the LoB
2.1. When creditors, enterprises, cooperatives fall into bankruptcy state, the head of the group of managing and liquidating assets found that the suspension of the contract performance is morefavorable in term of assets (physical) for enterprises and cooperatives, shall send written request to the court for making decision to suspend the contract performance. Attached to the written request are the papers, documents to prove that the suspension of the effective contract performance is more favorable in term of assets (physical) for enterprises and cooperatives.
2.2. The determination of more advantage for enterprises, cooperatives in the suspension of contract performance shall be implemented as follows:
a. Provisional calculation of losses and damages that enterprises, cooperatives to suffer if they continue to perform the contracts;
b. Provisional calculation of property damages (as a manner of negative legal consequences) that enterprises, cooperatives suffer if unilaterally suspend the performance of the contracts;
c. If the damages of provisional calculation are guided at point b less than the damages as guided in point a, this subsection 2.2, it is considered as more favorable for enterprises.
2.3. After receiving the written request and papers, documents attached to prove that the suspension of the effective contract performance is more favorable in term of assets (physical) for enterprises and cooperatives, the Judge must consider immediately. If written request is deemed ground, the Judge can accept and issue a decision to suspend the contract performance. If written request is deemed groundless, shall not accept and inform the requesting person.
3. Regarding the provisions of Article 51 of the LoB
Last day to publish the decision to open bankruptcy procedures of the court is the final day to publish one of two newspapers without a distinction that it is of local newspaper or central newspaper.
For example: The decision to open bankruptcy procedures of the court is published in local newspaper for three consecutive issues on 02, 04 and 06-3-2005; is published on the central newspaper in the three consecutive issues on 02, 03 and 04-3-2005, then the final newspaper to publish is 06-3-2005.
4. Regarding the provisions of Article 55 of the LoB
4.1. When deemed necessary to preserve the assets of enterprise or cooperative which fall into bankruptcy state, then the group of managing and liquidating assets must send written request to the judge in charge of conducting bankruptcy procedures to issue the decision to apply one or a number of temporary emergency measures provided for in Article 55 of the LoB. The written request must be specified the type of temporary temporary measure to be applied, application objects and reasons for applying.
4.2. The application of provisional emergency measures must aim to preserve the assets of the enterprises or cooperatives which fall into bankruptcy state, but may not affect business activities of enterprises, cooperatives under Article 30 of the LoB.
5. Regarding the provisions of Article 58 of the LoB
Upon receiving the case’ dossier transferred by the court making decision to suspend the handling of the case, the judge who is conducting bankruptcy procedures must consider and resolve. Under the provisions of LoB, decision of settling the case to be suspended may not be complainted or protested against; thus, when dealing with these types of cases, the judge accepts only those financial obligations which are clear, have sufficient proving evidence.
V. ON SOME OTHER PROVISIONS OF LOB
1. Regarding the provisions of Article 62 and Article 63 of the LoB
1.1. It should be distinguished that for those who are specified in Article 62 of LoB, the participation in the meeting of creditors is their rights, and for those who are specified in Article 63 of LoB, the participation in the meeting of creditors is their obligations. The distinction is to determine the eligibility of the meeting of creditors, postponing of the meeting of creditors and suspension of conducting bankruptcy procedures are stipulated in Articles 65, 66 and 67 of LoB.
1.2. In the case enterprises or cooperatives falling into bankruptcy state have no representatives as specified in clause 1 of Article 63 of LoB to participate in the meeting of creditors, the judge in charge of conducting bankruptcy procedures appoints the representives for enterprises and cooperatives to participate in the meeting of creditors. When appointing the representatives for enterprises, cooperatives to participate in the meeting of creditors, the judge should choose those who understand the work and activities of enterprises or cooperatives falling into bankruptcy state and for the general rules it should be appointed by the order of positions from the one who has position right after the legal representatives of enterprises, cooperatives and counted down. For private enterprise that the private enterprise’s owner has died and has no the legal successor of the enterprise’s owner, it is necessary to appoint a relative of the owner of that enterprise.
2. Regarding the provisions of Article 77 of the LoB:
Where the judge issues decision to suspend the procedures of recovery of business operations that the enforcement of civil judgment or the settlement of the case suspended under the provisions of Article 57 of LoB have not been settled, within 3 working days after the decision, the court shall:
2.1. Notify in writing to the enforcement agency of civil judgments for continuing the implementation of civil judgement as prescribed by law. Attached to the written notice are the papers and documents relating to the enforcement of civil judgment (if any).
2.2. Return the case’s dossier (note that it is not all the records of the bankruptcy) to the competent court to resolve the case according to law provisions.
3. Regarding the provisions of Article 84 and Article 92 of the LoB
3.1. As stipulated in clause 3 of Article 84 and clause 3 of Article 92 of the LoB, the decision to settle complaints and protests of the superior court is final and legally effective from the date of issuing the decision. Therefore, when dealing with complaints and protests, the group of Judges should carefully consider decisions of the subordinate court, the application of the complainant or protest by the People’s Procuracy to make decisions according to the law. Where necessary, the decision to settle complaints and protests must be disscussed to give comments by the Judicial Committee (for the provincial-level People’s Court) or collective of leaders (for the Appellate Court of the Supreme People’s Court).
3.2. In the event of having protest by the People’s Procuracy for the decision to open the procedure of liquidation of assets or decision to declare enterprise or cooperative to be bankrupted, the superior court shall notify in writing the People’s Procuracy of the same level. Where the People’s Procuracy of the same level found that it should attend the meeting to consider and resolve the protest, it must notify in writing the court. After the court sent written notice of the date, time and place of the meeting that the People’s Procuracy’s representative is absent, the court shall still proceed to consider and resolve the protest according to the general procedures.
VI. ON SOME FORMS OF DOCUMENTS
Issued together with this Resolution the following Forms of documents:
1. Decision to open bankruptcy procedures (Form No.01).
2. Notice of opening of bankruptcy procedures (Form No.02).
3. Decision of not opening bankruptcy procedures (Form No.03).
4. Decision to suspend implementation of the contract being in effect (Form No.04).
5. Decision to recognize Resolution of the meeting of creditors on the plan for recovery of business operations (Form No.05).
6. Decision to suspend recovery procedures of business operations (Form No.06).
7. Decision to open procedures of liquidation of assets (Form No.07).
8. Decision to declare bankruptcy (Form No.08).
VII. EFFECT OF THE RESOLUTION
This Resolution was passed by the Judges’ Council of Supreme People’s Court dated April 28, 2005 and takes effect after 15 days from it publication on the Official Gazette.
The guidances of the Supreme People’s Court which are issued before the effective date of this Resolution on the issues instructed in this Resolution are hereby annuled.