Vietnam’s 2025 Law on Rehabilitation and Bankruptcy fundamentally reshapes the country’s insolvency framework, introducing a debtor-led rehabilitation regime that emphasizes early intervention, court supervision, and structured creditor participation.
Vietnam has enacted a comprehensive overhaul of its insolvency framework through the Law on Rehabilitation and Bankruptcy No. 142/2025/QH15 (RBL 2025), which will take effect on March 1, 2026. The new law replaces the Law on Bankruptcy No. 51/2014/QH13 (Bankruptcy Law 2014) and responds to long-standing criticism that Vietnam’s existing bankruptcy regime was slow, court-centric, and largely ineffective as a tool for…