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Vietnam loosens foreign ownership limit in public companies and provides guidance on debt for equity swaps

On 26 June 2015, Vietnam loosened foreign ownership limits (FOL) in public companies by the adoption of Decree 60/2015 (Decree 60).

Vietnam, Corporate Finance/M&A, Derivatives, Insolvency & Restructuring, Mayer Brown, Public company, Market liquidity, Swap (finance), Debt, Stock exchange
Draft law on bankruptcy – a more practical bankruptcy regime for Vietnam?

On 8 October 2013, the Supreme Court of Vietnam released the most recent draft of the new Law on Bankruptcy ("Draft Bankruptcy Law"). The Draft Bankruptcy Law is now open for comments and, once passed by the National Assembly, will replace the current Law on Bankruptcy 2004 ("Current Bankruptcy Law").

The Draft Bankruptcy Law appears generally to be a positive step in Vietnam's efforts to improve the efficiency of the bankruptcy process and efforts to enhance the credibility of the legal framework for restructuring.

Conduct of Bankruptcy Proceedings

USA, Vietnam, Insolvency & Restructuring, Mayer Brown, Bankruptcy, Shareholder, Liquidation
Who should hold the bag for employment liabilities when the portfolio company goes “belly-up”? The private equity firm, maybe.

In the world of private equity, vast sums of money are raised by private investors who pool their money into collective funds in order to acquire companies, i.e., a “portfolio company”, with the goal of eventually flipping the portfolio company at a significant profit. Sometimes, however, that bet goes wrong, and the portfolio company is sold at a loss or, worse, liquidated in bankruptcy.

USA, Corporate Finance/M&A, Employment & Labor, Insolvency & Restructuring, Litigation, Mintz, Private equity, Angel investor, Worker Adjustment and Retraining Notification Act 1988 (USA)