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Set out below are the cases where the Enterprise Law 2014 allows piercing corporate veil (i.e. making a shareholder/member of a company liable for the liabilities of the company). This post is prepared by VILAF legal staffs, Nguyen Bich Ngoc and Ha Kieu Anh.
If a company in which the State has voting control (e.g. having 51% or more of the voting rights) conducts a private placement of shares, the following issues may arise from the regulations on management of State capital in companies:
Some concepts which have existed for more than 20 years no longer exist under Investment Law 2014. These disappearing concepts include:
Under the Investment Law 2014, the procedures for transfer of shares or capital contribution in existing joint ventures between foreign and Vietnamese investors which are established before 1 July 2014 become more complicated than it used to be under the Investment Law 2005. This is because: