Individual liability for corporate actions Corporate law in Vietnam

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1 individual liability corporate actions

1.1 ownership representatives
1.2 executive
1.3 inspectors





individual liability corporate actions
ownership representatives

where mc/chairman of llc fails convene requested meeting within 15 days of request, must bear personal liability damage may result company.


executive

the loe prescribes director of llc may sued shareholders should fail perform obligations , duties. in contrast, in sc, there no such provisions grant shareholders power bring action against directors not perform duties. while law lays out fiduciary duties of directors, not provide way enforce these duties. has led criticism interests of shareholders of scs not adequately protected.


inspectors

the ic legally responsible implementation of rights , duties. loe not specify circumstances under ic deemed have neglected rights , duties , hence legally liable.








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