Saturday, October 31, 2020

SEC opens to repayment claims from THAI debenture holders

Sep 24. 2020
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By THE NATION

Creditors who hold Thai Airways (THAI) debentures can submit requests for debt repayment at the Securities and Exchange Commission (SEC) office until November 2, the commission said on Wednesday.

Ruenvadee Suwanmongkol, SEC secretary general, said the office would receive requests from general debenture holders from today (September 23).

THAI owes total debt on debentures of Bt71.608 billion, Bt7.586 billion of which is owed to general holders and the remaining Bt64.022 billion to juristic persons.

Meanwhile, the Legal Execution Department (LED) said it had received a total 922 debenture repayment requests via its online channel from September 14-22. This service will also be closed after November 2.

The LED added that creditors, the airline, and its rehabilitation planners will be able to review and lodge official objections to the requests until November 16.

Earlier this month, the Bankruptcy Court accepted THAI’s request for restructuring after the airline racked up more than Bt352 billion in debt.

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