Can contract lecturers practice as an asset manager? What conditions must be met to become an asset administrator?

What is an administrator? Conditions to practice as an asset administrator?

According to the provisions of Clause 7, Article 4 of the Bankruptcy Law 2014, an administrator is understood as an individual practicing management and liquidation of assets of insolvent enterprises and cooperatives during the bankruptcy process.

Article 12 of the 2014 Bankruptcy Law stipulates the conditions for practicing as an Asset Administrator as follows:

– The following people are granted certificates to practice as asset managers:

+ Lawyer;

+ Auditor;

+ People with bachelor’s degrees in law, economics, accounting, finance, banking and 5 years or more experience in the trained field.

– Conditions to practice as an Asset Manager:

+ Have full civil act capacity;

+ Have good moral qualities, sense of responsibility, integrity, honesty, and objectivity;

+ Have a practicing certificate as an asset manager.

In what cases are you not allowed to practice as an asset administrator?

Article 14 of the 2014 Bankruptcy Law states that individuals are not allowed to practice asset management and liquidation as follows:

– Officials, civil servants and public employees; officers, professional soldiers, defense workers in agencies and units of the People’s Army; Professional officers and non-commissioned officers in agencies and units of the People’s Public Security.

– People who are being prosecuted for criminal liability; people who have been convicted but have not had their criminal records erased; People who are being subjected to administrative measures and sent to compulsory education establishments or compulsory detoxification establishments.

– People who have lost civil act capacity or have limited civil act capacity.

Thus, if you fall into the above cases, you cannot practice prison supervision. However, the question is whether lecturers who teach under contract are officials, civil servants or public employees?

Pursuant to the Law on Cadres and Civil Servants 2008 and the Law on Civil Servants 2010, lecturers who teach under the labor contract regime are not cadres, civil servants or public employees. Therefore, if you do not fall into other cases, you can absolutely become an administrator if you meet the regulations in Article 12 of the Bankruptcy Law.

Legal regulations on rights and obligations of administrators

In addition, you need to pay attention to the rights and obligations of the Administrator specified in Article 16 of the Bankruptcy Law 2014, specifically as follows:

– Asset management, business supervision, and asset liquidation of insolvent enterprises and cooperatives, including:

+ Verify, collect, and manage documents and evidence related to the activities of enterprises and cooperatives;

+ Prepare a list of assets, list of creditors, list of debtors;

+ Preserving assets; prevent the sale or transfer of property without the permission of the Judge; prevent the dispersal of assets; Maximize the value of assets of businesses and cooperatives when selling or liquidating assets;

+ Supervise business activities of enterprises and cooperatives according to the provisions of law;

+ To hire individuals or organizations to perform work according to the provisions of law;

+ Propose to the Judge the sale of assets of enterprises and cooperatives to ensure bankruptcy costs;

+ Sell assets according to the Judge’s decision to ensure bankruptcy costs;

+ Organize the valuation and liquidation of assets according to the provisions of this Law; Report to the civil judgment enforcement agency and notify relevant participants in bankruptcy procedures about assigning individuals and organizations to liquidate assets;

+ Deposit the collected money into an account opened at a bank by the People’s Court or competent civil judgment enforcement agency.

– Representing businesses and cooperatives in cases where businesses or cooperatives do not have a legal representative.

– Report on the status of assets, liabilities and operations of enterprises and cooperatives, participate in developing plans to recover business activities of insolvent enterprises and cooperatives.

– Request the Judge to carry out the following tasks:

+ Collect documents and evidence;

+ Declare the transaction invalid and decide to recover the assets of the enterprise or cooperative that were sold or transferred illegally;

+ Apply temporary emergency measures; Apply administrative sanctions; transfer the file to the competent criminal handling agency according to the provisions of law.

– Receive remuneration and carry out professional insurance responsibilities according to the provisions of law.

– Report on the performance of their duties and powers at the request of the Judge and civil judgment enforcement agency; Be responsible before the Judge, civil judgment enforcement agencies and the law for the performance of your duties and powers.