Cancellation of the application of provisional urgent measures

Cancellation of the application of provisional urgent measures
March 18 02:23 2014 Print This Article

– The court shall issue decisions on cancellation of provisional urgent measures already applied in the cases specified  and in cases where the provisional urgent measure debtor can prove that the application of provisional urgent measures is not well grounded .

– In case of cancellation of a provisional urgent measure, the court shall consider the refund to the person requesting the application of such provisional urgent measure of the security defined:

* A sum of money equal to 20% of the value of  the goods subject to the application of provisional urgent measures, or at least VND 20 million where it is impossible to value such goods;

*  A guarantee deed issued by a bank or another credit institution.

Where a request for the application of a provisional urgent measure is not well grounded, thus causing damage to the provisional urgent measure debtor, the court shall compel the requester to pay compensation for the damage.

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