Debt Recovery With Foreign Element Lawsuit Dossier

In today’s global business landscape, disputes related to debt recovery involving foreign elements are increasingly common. While many of these disputes can be resolved through negotiation or mediation, there are instances where it becomes necessary to initiate legal action through court, to protect the legitimate rights and interests of the parties involved. Consequently, individuals and organisations engaged in debt recovery must be well-versed in the process of filing a lawsuit when foreign elements are involved. This article will provide comprehensive information regarding the Debt Recovery With Foreign Element Lawsuit Dossier, along with the relevant legal requirements and implementation procedures.

What is the Debt Recovery With Foreign Element Lawsuit?

Debt Recovery With Foreign Element Lawsuit is a legal process in which an individual or organisation (plaintiff) requests a court to resolve a dispute related to an unpaid debt, in which one of the debtors (the defendant) has an address or business in a foreign country.

This process includes steps from preparing a lawsuit dossier, and determining the court’s jurisdiction, to collecting and providing appropriate evidence. Initiating a lawsuit for debt recovery with foreign elements not only requires an understanding of domestic law but also compliance with foreign legal regulations, as well as international agreements related to the recognition and enforcement of judgments.

Therefore, the parties involved need to master the relevant legal provisions and prepare carefully to ensure their legitimate interests in the debt recovery process. Initiating a lawsuit to recover debts with foreign elements is not only a measure to protect interests but also a way to fulfil financial commitments in the international business environment.

Debt Recovery With Foreign Element Lawsuit Dossier

The Debt Recovery With Foreign Element Lawsuit Dossier is a collection of necessary documents and evidence required to initiate legal proceedings in a competent court, where at least one party involved (the plaintiff or defendant) is a foreign organisation or individual, or the dispute arises from a transaction with foreign elements. The Debt Recovery With Foreign Element Lawsuit Dossier must be prepared professionally and comprehensively to enhance the persuasiveness and effectiveness of the legal process. The main components include:

Components of a lawsuit dossier

• Petition

The petition is the most important document in the file. This application should clearly state the following information:

• Information of the creditors: Including the name, address, tax identification number (if any) and contact information of the creditor.
• Information of the debtors: Including the name, address, tax identification number (if any) and contact information of the overseas debtor.
• Requirements: Clearly state the amount of debt, interest rate (if any) and the deadline for requesting payment.
• Legal basis: Provide terms in the transaction contract or legal regulations related to payment obligations, including international regulations (if any).
• Trading contracts

The contract or agreement between the parties is an important document. This contract should clearly state the payment terms, regulations on applicable law, dispute resolution methods, as well as terms related to debt recovery.

• Debt confirmation record

The debt confirmation record shows the consensus between the two parties on the remaining debt amount. This document needs to be signed and fully informed by the debtor abroad, in order to strengthen the lawsuit request.

• Proof of payment

Documentation proving payments made against the debt is essential. These documents may include receipts, bank statements, or transfer records confirming any amounts that the debtor has paid. This is important in proving the payment history and the remaining balance to be paid, thus supporting the creditor’s claim during the debt recovery process.

If so, it is necessary to attach documents related to the foreign law that the debtor is applying, as well as international agreements related to the recognition and enforcement of judgments.

• Other Related Documents

Other documents related to the case such as debt reminder notices, working minutes, and emails exchanged between the two parties also need to be kept. These documents help demonstrate the creditor’s efforts to recover the debt.

Depending on the specific case, the plaintiff may need to add other documents such as evidence of the defendant’s assets in Vietnam or information about bank accounts that the defendant may have in another country.

Legal requirements for Debt Recovery With Foreign Element Lawsuit Dossier

The Petition must comply with the following legal requirements:

• Validity: All dossiers must be prepared completely, accurately, and validly under the law.
• Signature: The petition must be signed by the petitioner.
• Notarisation: Relevant documents need to be notarised or authenticated upon request.
• Competent Court: The dossier must be submitted to a competent court under law.

The process of debt recovery with foreign element lawsuit

The process of debt recovery with foreign element lawsuit includes the following basic steps:

Filing a lawsuit dossier

The dossier must be filed at a competent court by the law, usually the provincial court where the plaintiff resides or where the defendant’s property is located.

Accepting the case

The court will verify the validity of the documentation. If the dossier is deemed valid, the court will accept the case and issue a Notice of Acceptance. In cases where the borrower (defendant) is located abroad, the court must carry out the judicial mandate through a competent Vietnamese authority overseas or through civil procedure agencies in a foreign country with which Vietnam has signed mutual legal assistance agreements or to which both countries have acceded to international treaties addressing this matter.

Participate in the trial

If the absent defendant fails to appear at the court hearing after being duly summoned for a second time, the court may proceed with a trial in the defendant’s absence, as stipulated in the Civil Procedure Code.

Court decision

After reviewing the entire case and considering the opinions presented, the court will decide whether to accept or reject the lawsuit. If the request is accepted, the court will issue a decision mandating the debtor to fulfil the payment obligation as requested.

If the entrustment is successful, the court will proceed to adjudicate the case under the law. Conversely, if the entrustment does not yield results, the court will issue a decision to temporarily suspend the case based on Article 214 of the Civil Procedure Code. Once the grounds for suspension are no longer present, the court will resume proceedings to resolve the case.

Enforcement of court decisions

The judgment enforcement agency will consider and take necessary measures. Note that enforcement of judgments against foreign debtors may be difficult due to differences in laws and procedures between countries. For the plaintiff, when it is discovered that the defendant has returned to the country, it is necessary to immediately notify the court to continue settling the lawsuit. To prevent the defendant from leaving the country, the plaintiff has the right to request the court to issue an exit ban on the defendant until the case is resolved.

End of the Debt Recovery process

After taking enforcement measures, if the debtor pays the debt in full, the debt recovery process will end. Otherwise, the creditor can continue to request judgment enforcement until the debt is paid.

The above is an overview of Debt Recovery With Foreign Element Lawsuit Dossier. If you have difficulties in finding a Law Firm to advise and support in the relevant legal field, please contact us. Phuoc & Partners is a professional consulting firm established in Vietnam and currently has nearly 100 members working in three offices in Ho Chi Minh City, Hanoi and Danang. Phuoc & Partners is also rated as one of the leading consulting firms in Vietnam with highly specialised teams in top legal fields such as Labour and Employment, Taxation, Merger and Acquisition, Litigation. We are confident in providing customers with optimal and effective service.