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Banking & Finance: Legal Framework for Debts & Assets Trading Co. Needs Adjustment.
(From Vietnam News Briefs)
Legal framework for the Debt and Asset Trading Company (DATC), which is expected to help speed up equitization of State-owned enterprises (SOEs) in Vietnam, has shown some shortcomings that may hamper the company's business operation, experts said.
The law firm Baker & McKenzie has completed a report on the legal framework for DATC, showing that some provisions are not suitable for the operation of a debt trading company.
The report shows that DATC was established to do two tasks. Firstly, to meet purpose of settling bad debts in SOEs assigned by the government, and secondly, to profit itself. The first purpose may make …
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