Insolvency & Restructuring
After the 1997 financial crisis in Southeast Asia, Thai bankruptcy laws were changed to permit the reorganization of financially distressed business. Even though Thai bankruptcy reorganization proceedings are similar to a Chapter 11 proceedings in the U.S. Bankruptcy Code, they are not identical.
Analytics managing partner has decades of experience handling Chapter 11 proceedings in the U.S. and assisting and advising foreign clients on Thai reorganization proceedings. He also understands and has handled cross border insolvency proceedings.
- Thailand Falls Another Three Places on Transparency International’s Corruption IndexThailand ranked 104th among 180 countries surveyed, down from 101st a year earlier, with an overall score of 36 out of 100. The higher the ranking the greater the perception of corruption, and the lower the score, the higher the perception of corruption. Although there have been minor changes, Thailand’s ratings on Transparency International’s Corruptions ...Read more
- Airbus Corruption Probe Likely to ContinueAlthough 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 FCPA ...Read more
- Overview of Thai Bankruptcy Reorganization LawOverview 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 ...Read more
- Thai to Seek Extension to File Bankruptcy Reorganization PlanThai 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 ...Read more
- Higher Returns for Property, Tourism, Entertainment, etc. Sectors After Pandemic EndsHigher Returns in Tourism, Property, etc., after the Pandemic Ends The Bangkok Post reported on 20 November 2020 that “Thailand’s biggest manager of distressed assets is bracing for another difficult year in 2021, as the economy faces more headwinds from the pandemic”. This article goes on to quote Bungyong Visatemongkolchai, the chairman of Bangkok Commercial Asset ...Read more
- Top 12 Things to Keep in Mind When Planning on Doing Business in ThailandThe top 12 things to keep in mind when planning to do business in Thailand: 1. Foreign Ownership of Companies and Land: This is often a surprise for business people and lawyers operating in more open economies, but foreigners are prohibited from owning land (absent narrow exceptions) and foreign majority owned businesses are prohibited from engaging in a ...Read more