Ve che dinh kien phai sinh (Derivative Actions under Vietnamese Law)

Quach, Q 2012, 'Ve che dinh kien phai sinh (Derivative Actions under Vietnamese Law)', Tap chi Luat hoc (Jurisprudence Review), vol. 3, pp. 1-6.

Document type: Journal Article
Collection: Journal Articles

Title Ve che dinh kien phai sinh (Derivative Actions under Vietnamese Law)
Author(s) Quach, Q
Year 2012
Journal name Tap chi Luat hoc (Jurisprudence Review)
Volume number 3
Start page 1
End page 6
Total pages 6
Publisher Hanoi Law University
Abstract Derivative actions were a protection mechanism which allows shareholders to sue managers of companies and/or majority shareholders when they had opportunistic behaviours. The mechanism was introduced in Vietnam in 2010 by a sub-legislation. The introduction of the derivative action is strong evidence of improvement in litigation rights for shareholders under Vietnamese law. Nature of derivative actions - a mechanism originated in common law countries - differs from other forms of shareholders litigation in Vietnam. This difference, unfortunately, is not in accordance with temporary civil procedures in Vietnam. Therefore, the article aims to discuss the different nature of this mechanism, give suggestions to improve current rules of derivation actions, and highlight the need to revise relevant rules for the effective functioning of that mechanism.
Subject Corporations and Associations Law
Litigation, Adjudication and Dispute Resolution
Comparative Law
ISSN 0868-3522
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