Instruction on Collection of Money and Assets of the Judgment Debtor Held by a Third Party

12:56, 10/07/2024

Recently, the Government of Vietnam has just signed and promulgated Decree 62/2015/ND-CP detailing and guiding the implementation of certain provisions of the Law on Civil Judgment Enforcement.

thu tien, tai san cua nguoi phai thi hanh an do nguoi thu ba giu, Nghi dinh 62/2015/ND-CP

Illustrative image (source: internet)

To be specific, Article 23 of Decree 62/2015/ND-CP stipulates that when there is a basis to determine an organization or individual is holding money, assets of the judgment debtor, the executor shall make a working record or issue a document requesting the organization or individual holding the money or assets to hand them over to the civil enforcement agency for the execution of the judgment.

If the organizations or individuals holding the money or assets of the judgment debtor fail to comply with the executor's request to hand over such money or assets, enforcement measures and coercive measures shall be applied to execute the judgment.

All coercive enforcement costs are borne by the judgment debtor.

In addition, in the case where a third party holding the money or assets of the judgment debtor fails to comply with the executor's request and hands over the money or assets to the judgment debtor or another person, leading to the inability to execute the judgment for the judgment creditor, the third party must compensate for the damage according to legal regulations.

In cases where it is discovered that an organization or individual is obliged to pay money or assets to the judgment debtor and that amount of money or assets has been determined by an effective court judgment or decision, the executor shall request that organization or individual to hand over the money or assets to the civil enforcement agency for the execution of the judgment. If the organization or individual does not comply, the executor shall apply necessary coercive measures against them to collect the money or assets for the execution of the judgment. The costs of coercive enforcement in this case shall be borne by the organization or individual being subject to coercive enforcement.

For more regulations, see: Decree 62/2015/ND-CP, effective from September 1, 2015.

Thu Ba

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