In June 2015, the first instance court decides that a contract in the territory of Vietnam that is denominated in US$ but settled in VND is not invalid. In December 2015, according to newspaper report, the appeal court has revoked a decision of the first instance court and held such a contract invalid in its entirety. This is a surprise development and may cause concern to many business transactions in Vietnam which have relied on a more relax view of the court earlier.