Thailand to Join Talks on the Indo-Pacific Economic Framework
The Thai government announced it will join other countries in negotiating rules and procedures for the Indo-Pacific Economic Framework (IPEF). According to Nikki Asia: “he Thai cabinet approved Tuesday a statement notifying the U.S. of its participation in the negotiations.” This is a historic stride by the current U.S. administration to restore American leadership in the...
New Service Added: Work Permits and Visas
Through new additions, Analytics will now offer work permit and visa services to existing clients and parties that retain the firm for corporate formation work. Because the fees for these services will be heavily discounted (e.g., fees for work permits could be as low as several hundred dollars), these services will only be provided to parties that already engage or will engage the firm for...
Airbus Corruption Probe Likely to Continue
Although the Trump administration unexpectedly imposed record fines under the Foreign Corrupt Practices Act (“FCPA”), it also initiated “fewer and fewer new FCPA investigations”. The National Law Review reports that it expects the incoming Biden administration to “continue the trend of increasing FCPA enforcement settlement values, while also increasing the pace of initiating new...
Conducting Corruption Compliance Interviews Abroad – Thailand
Foreign Corrupt Practices Act (“FCPA”) investigations typically involve third parties or subsidiaries located outside the US since most FCPA violations arise out of the activities of foreign third parties or foreign subsidiaries. But most guides on how to conduct FCPA investigations and interviews seem to ignore this rather obvious fact. It has not however escaped the attention of the U.S....
Overview of Thai Bankruptcy Reorganization Law
Overview of Thai Bankruptcy Reorganization Law
Bankruptcy laws often require courts and parties to make hard choices. In a bankruptcy there is simply not enough money to satisfy everyone, and difficult decisions must be made about who gets what. In a bankruptcy, property is seized, reputations are ruined, contracts are dismembered and jobs are lost.
Thai law only provided for the liquidation...
Thai to Seek Extension to File Bankruptcy Reorganization Plan
Thai Airways International Plc (“Thai”) will seek an extension to submit a bankruptcy rehabilitation plan from the end of this year until February of 2021. This could change. To recap Thai’s own history of the bankruptcy reorganization proceedings filed on behalf of or by Thai thus far:
26 May 2020 – Thai submitted a petition to enter bankruptcy rehabilitation proceedings and propose...
Draft Regulations Provide for Some Relaxation of the Foreign Business Act
The primary restriction on foreign ownership of businesses in Thailand is set out in the Foreign Business Act (“FBA”). To legally engage in activities restricted under the FBA, an alien company must obtain a Foreign Business License (“FBL”) or a Foreign Business Certificate (“FBC”) from the Department of Business Development of the Thai Ministry Commerce (“DBD”). This is often easier said...
Words That Have No Place in Your Legal Documents: “And/Or”
Never use “and/or” in legal drafting, particularly when describing an obligation. It has been correctly described as an “ugly legalism”; William Strunk, Jr., and E.B. White, in their classic, The Elements of Style, say and/or is “A device, or shortcut, that damages a sentence and often leads to confusion or ambiguity”. They are right.
Justice Fowler, more colorfully, described it...
Effective and Persuasive English Language Advocates for Disputes in Thailand
International arbitration is the best way to resolve cross border disputes. If the arbitration is conducted by a truly international arbitration institute, such as the Singapore International Arbitration Centre or the Thailand Arbitration Centre (THAC), the arbitration can be conducted in English, provided the arbitrator and counsel are capable of handling the proceedings in English. And this...
More FCPA Enforcement Activity Predicted under Biden Presidency
Although the Department of Justice (DOJ) under Trump imposed record penalties under the U.S. Foreign Corrupt Practices Act (FCPA”) from 2017 through 2020, it also initiated fewer and fewer new FCPA investigations during that period. Indeed, White House Economic Advisor Larry Kudlow reportedly said in January 2020 that the administration was “looking at” making changes to the law because...