Thai Bankruptcy Rehabilitation Proceedings – Claims by Foreign Creditors

Foreign companies dealing with Thai companies that are having financial problems should be alert to notices that the Thai company is the subject of an Order for Reorganization under the Thai Bankruptcy Act. This is particularly true if the Thai party owes money to the foreign company. Once such a notice is issued, the foreign party will need to take action to file a claim in the Thai proceedings to recover amounts owed by the Thai party. To see more about filing such a claim, click here.  For an overview of Thai Bankruptcy Reorganization proceedings, click here.