“According to the Land Law, Housing Law, Real Estate Business Law and Law on Credit Institutions, effective from August 1 this year, instead of having to transfer all of a real estate project as collateral to recover bad debts, banks will have the right to transfer part of the project. Banks said that most bad debts are secured by assets, mainly real estate. However, values of the real estate collateral tend to be large and that makes it difficult for banks to find buyers. Therefore, they expect the new regulations will create favourable conditions for them to handle bad debts.” – Viet Nam News
Source: New law promotes real estate-related bad debt settlement (vietnamnews.vn)
Law Promotes Real Estate-Related Bad Debt Settlement
