š¤š» Guest Take: Key Insights on Vietnamās IFC Specialised Courts Law by Indochine Counsel
Vietnam is developing a judicial infrastructure to serve investors operating within the International Financial Centre.
Acrostics Asia is delighted to share this alert written by Vietnamese law firm Indochine Counsel.
The International Financial Centre (IFC) Specialised Courts Law ādemonstrates Vietnamās efforts to develop a coherent judicial infrastructure to serve investors operating within the IFC, rather than implementing isolated procedural reforms,ā Indochine said in its note.
Key Takeaways
The Specialised Court at the International Financial Centre is the competent authority for resolving financial and investment disputes arising within the International Financial Centres in Ho Chi Minh City and Da Nang City.
The Specialised Court is organised under a two-tier adjudication structure (first instance and appeal) and operates under flexible, specialised procedural rules aligned with international standards and practice, with a strong emphasis on party autonomy.
Foreign judges, lawyers, and other reputable experts may be appointed as judges of the Specialised Court.
The Specialised Court permits the application of foreign law and international commercial customs in dispute resolution. English is the language of proceedings, and electronic proceedings may be implemented on a comprehensive basis.
Judges of the Specialised Court are empowered to issue decisions directly and oversee enforcement, thereby ensuring that judgments and decisions are enforced promptly and effectively.
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