Beef-noodle franchise to sue Islamic Bank manager

This was after the manager allegedly failed to approve loans for its franchisees, despite signing a previous MoU agreeing to loan cash to 50,000 franchise applicants over five years. The court will hear the case on July 15 at 1.30pm.
In the lawsuit, Chana Rattanapakdi, executive of Tha Pisut International that owns the beef noodle and meatball franchise business, accused Thanin of abusing his authority and causing damage to others according to the Criminal Code’s Article 157. Chana claimed that he and the bank had signed the MoU last November, hence the bank had to consider and approve Bt40,000 loans for the firm’s customers, while Dhipaya Insurance agreed to insure the customers at the total sum of Bt2.5 billion. However, the manager ordered that bank suspend loans and all financial support for the company and franchises even though their loan applications had reportedly been approved with no regard to the damages incurred by the company and its franchisees, Chana claimed.