Enforcers may request suspension or termination of asset auctions

The Government has issued Decree No. 64/2026/NĐ-CP dated February 28, 2026, detailing a number of articles of, and providing measures for implementation of, the Law on Recovery and Bankruptcy regarding the enforcement of decisions declaring enterprises and cooperatives bankrupt, which takes effect from March 1, 2026.

From March 1, 2026, enforcers have the right to request the temporary suspension or termination of the organization of asset auctions and auction sessions.

According to Clause 1 Article 15 of Decree No. 64/2026/NĐ-CP, additional provisions stipulate that the enforcer has the right to request the asset management officer or asset management and liquidation firm to request the auction practice organization, asset auction council, or auctioneer to temporarily suspend or terminate the organization of the auction or auction session where there are grounds as prescribed by the law on civil judgment enforcement.

In addition, Article 15 provides that the asset management officer or asset management and liquidation firm shall immediately comply with the enforcer’s request; where such request is not complied with, it/he/she shall bear responsibility, and where damage is caused, compensation shall be made in accordance with the law.