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The Government Office has just issued a Press Release on the direction and administration of the Government and Prime Minister on May 28, 2026. Download Order and procedures for changing representatives of enterprises and cooperatives in recovery and bankruptcy procedures. Detailed regulations on a number of articles of the Law on Rehabilitation and Bankruptcy on changing the legal representative of state-owned enterprises after the Court accepts a request to apply recovery procedures; operation and supervision of operations of enterprises and cooperatives after the decision to open bankruptcy procedures. The Government issued Decree No. 187/2026/ND-CP dated May 27, 2026 detailing a number of articles of the Law on Rehabilitation and Bankruptcy on changing the legal representative of state-owned enterprises after the Court accepts a request to apply recovery procedures; operation and supervision of operations of enterprises and cooperatives after the decision to open bankruptcy procedures is issued. This Decree stipulates in detail Clause 2, Article 30, Clauses 1, 3 and 4, Article 42 of the Law on Rehabilitation and Bankruptcy on: changing the legal representative of state-owned enterprises after the Court accepts the request to apply rehabilitation procedures; change the legal representative of an enterprise, cooperative, or union of cooperatives after a decision to open bankruptcy procedures; Supervise operations of enterprises, cooperatives, and cooperative unions after the decision to open bankruptcy procedures; Synchronous transfer of assets, transfer of part or all of business and business activities; Transfer of part or all of an enterprise, cooperative, or cooperative union after a decision to open bankruptcy procedures is issued. Subjects of application include:1. The enterprise is the subject of a recovery or bankruptcy case.2. Cooperatives and unions of cooperatives (hereinafter referred to as cooperatives) are the subjects of recovery and bankruptcy cases.3. Business registration agency.4. Agency representing the owner of state capital in the enterprise (hereinafter referred to as the owner representative agency).5. Relevant agencies, organizations, and individuals. Cases where the representative of an enterprise or cooperative is incapable of operating an enterpriseThe Decree stipulates that the legal representative of an enterprise or cooperative is incapable of operating an enterprise or cooperative when falling into one of the following cases: 1. The legal representative of the enterprise or cooperative is absent from Vietnam for more than 30 days without authorizing another person to exercise his or her rights and obligations; 2. The legal representative of the enterprise or cooperative dies, is missing, is being prosecuted for criminal liability, is detained, is serving a prison sentence, is serving administrative handling measures at a compulsory detoxification facility, compulsory education establishment, escapes from the place of residence, has limited or lost civil act capacity, has difficulty in cognition, controlling behavior, is banned by the Court from holding certain positions, practicing certain professions or doing certain jobs; 3. The legal representative of an enterprise with state capital is also the direct owner representative, the state capital representative is not capable of operating the enterprise according to the assessment of the owners representative agency according to the functions, tasks and powers according to the provisions of law on management and investment of state capital in enterprises and the provisions of law on management of title holders, position holders, and representatives of state capital;4. Other cases are decided by the Judge. Documents, order and procedures for registering a change of representative of an enterprise or cooperative according to the decision of the Judge. The Decree stipulates that the registration of changing the legal representative of an enterprise or cooperative according to the decision of the Judge shall be carried out according to the order and procedures specified in Clause 4, Article 30 of the Law on Enterprises and Clause 2, Article 47 of the Law on Cooperatives, specifically as follows: 1. Unless the Judge requests another time limit, within 15 days for enterprises and 10 days for cooperatives from the date the Judge issues a decision on changing the legal representative of the enterprise, cooperative, the Treasurer or the person appointed by the Court to register the change of the legal representative of the enterprise or cooperative with the Business Registration Authority. The dossier includes the following documents: a) Written request for registration of change of legal representative according to the form specified in the Appendix issued with this Decree; b) Copy of the Judges decision on changing the legal representative of the enterprise or cooperative; 2. In case the database of court judgments and decisions connects and shares information with the National Business Registration Database and the Cooperative Registration Database, the Business Registration Authority and the agency specified in Point a, Clause 3 of this Article are responsible for exploiting and using the information already in the above databases to replace the documents specified in Point b, Clause 1 of this Article, except in cases where the information cannot be exploited or the information cannot be exploited. complete and inaccurate. Connecting and sharing information between databases on judgments and decisions ofCourts and the National Database on Business Registration and the Database on Cooperative Registration are implemented according to the announcement schedule on the National Information Portal on Business Registration;3. Registration to change the legal representative of an enterprise or cooperative specified in Clause 1 of this Article is carried out by one of the following methods: a) Directly at the Provincia
