The CBC will either approve or reject the petition during the 17 August hearing and will likewise appoint a planner to prepare the flag carrier's rehabilitation plan.

Thailand's Official Receiver recently issued an important announcement relevant to all existing or potential creditors of Thai Airways International Public Company Limited ("Thai Airways International").

As Thailand is a contracting state of the UN Convention on the Recognition and Enforcement of Foreign Arbitral Awards, international arbitral awards can, in principle, be enforced in Thailand.

Under Thai bankruptcy law, a creditor can file a request for a debtor to be placed under an absolute receivership order and bankruptcy judgment.

In episode 3 of our Business Rehabilitation Spotlight Series, we will discuss on the most crucial stage for creditors in a business rehabilitation proceeding, which is the "Debt Repayment Application."

COVID-19 and the resulting lockdown measures to limit outbreaks in Thailand have caused significant financial difficulties for many business operators, large and small.

Thailand's recent amendments to the Bankruptcy Act - recently approved by the House of Representatives and pending Senate review will mark a significant...

Thailand's business rehabilitation regime under the Bankruptcy Act B.E. 2483 (1940) continues to serve as a vital legal mechanism for companies facing financial distress.

Aggressive creditors may force a partnership into bankruptcy and certain individual partners may be required to follow.

A new Financial Institutions Business Act B.E. 2551 (the "Act") has been approved by Thailand's National Legislative Assembly, and will become effective on 3 August 2008.

Significant economic challenges facing Thailand in recent years have placed financial pressure on both individuals and businesses. As a result, many debtors may find themselves unable to meet their repayment obligations, leading to bankruptcy proceedings.

Thai law offers no explicit guidance on how arbitration and insolvency interact, leaving practitioners to navigate the intersection of two separately drafted statutes—the Bankruptcy Act and the Arbitration Act—without settled rules. Key questions about representation, enforcement of awards, and the treatment of foreign insolvency proceedings depend on inference from general principles rather than express provisions.

Thailand is facing unstable economic conditions due to political transitions, global interest rate fluctuations, technological advancements, trade conflicts, and effects of COVID-19 pandemic.

Over the past decade, business rehabilitation proceedings in Thai courts have received a great deal of attention from debtors and creditors, especially after the COVID-19 pandemic.

In Thailand, in-court business rehabilitation is a legal proceeding that enhances a debtor's chance to restructure business operations for corporate debtors who are unable to repay their debts.

In the previous edition of the overview on Thailand's approach to bankruptcy, we covered how parties petition for bankruptcy proceedings, the processes involved,...

Thailand's economy in recent years has felt the impact of a seemingly endless list of challenges, such as the COVID-19 pandemic, global economic recession, repercussions from wars and armed conflicts...

The primary goal of business rehabilitation proceedings is to provide debtors who are facing insolvency with various mechanisms to address their financial difficulties.

This Legal Update provides an outline of the Thai rehabilitation process, by reference to the Thai Airways proceedings currently underway in Bangkok's Central Bankruptcy Court.

Bankruptcy is a legal proceeding involving a person or business that is unable to repay their outstanding debts, while reorganization is a process where a company establishes and implements a plan ...