Bankruptcy court calls extra day of hearing on THAI rehabilitation petition
The Central Bankruptcy Court has set an additional day on August 25 for the examination of the business rehabilitation petition involving Thai Airways International Plc (THAI), when objectors' witnesses can testify before the court, THAI director and acting president Chansin Treenuchagron said.
He was speaking on Thursday, the second day of the examination of the business rehabilitation petition at the court.
THAI authorised Chai Eamsiri, acting executive vice president, finance and accounting, and Deloitte Touche Tohmatsu Jaiyos Co, Ltd, THAI's auditor, as its witnesses to testify before the court on the issue of THAI's insolvency and the current financial status of THAI being unable to repay its dues and debts. The objectors have accepted the claims without further objections, Chansin said.
Dhipaya life Assurance Pcl, one of the creditors, withdrew the objection to nominate a joint planner.
Once the proceedings related to the examination is completed and the court issues an order for business reorganisation, and also appoints the planners nominated by THAI, the Legal Execution Department will notify all the creditors regarding the registration process for filing an application for repayment of debt, Chansin said.
All creditors can proceed with the filing by themselves at home via electronic means or bring the documents to the THAI head office on Vibhavadi Rangsit Road.
THAI will provide the particulars of the date, time, and location in due course, Chansin said.
The creditors must file an application for repayment of debt within one month after the order for business reorganisation is granted and the appointment of planners is published in the Government Gazette.
If the court issues an order for business reorganisation and appointment of planners nominated by THAI, the airline said it would brief all creditors on the draft business reorganisation plan, Chansin said.
Chansin expressed his appreciation for THAI's creditors and customers, "who have remained confident and always supported THAI, despite being under business reorganisation proceedings". He said THAI is prepared to fulfill its commitments and would do its best for the benefit of all parties.
