By Piyanuch Tamnukasetchai
The move should boost the number of cases in which creditors get paid from the defendants’ liquidated assets to 75-80 per cent, LED director-general Ruenvadee Suwanmongkol said on Monday.
It is hoped that the higher percentage of creditors getting paid back will lift Thailand’s ranking in the World Bank’s annual “Ease of Doing Business Index”, she said.
Currently the percentage of creditors getting repaid in Thailand is around 68 per cent, she added.
This in itself is a substantial increase from just 49 per cent three years ago.
The electronic system to automatically assign bankruptcy cases will create transparency and convenience for public services, Ruenvadee said, explaining that the system would be applied in the first phase to cases under the Central Bankruptcy Court.
The traditional system of case assignment, based on the case code’s last digit, is difficult to search and not in accordance with the international standard, she stressed.
The new system will assign cases to divisions and officials better, and will be much easier to search on the www.led.go.thwebsite or at the LED kiosk within the agency’s office compound, by just typing in the defendant’s 13-digit Thai ID number or company registration number to find out which division and which official is in charge of the case, the director-general said.