Thailand’s Official Receiver recently issued an important announcement relevant to all existing or potential creditors of Thai Airways International Public Company Limited (“Thai Airways International”). The announcement details the Central Bankruptcy Court’s Order for rehabilitation of Thai Airways International and was published in the Royal Gazette on October 2, 2020.

On 27 June 2020, Cambodia issued the new Law on Anti-Money Laundering and Combating the Financing of Terrorism (‘the 2020 AML/CFT Law’), that abrogates both the 2007 law of the same name and the 2013 sub-decree that accompanied the former law. All other laws relevant to AML will remain in effect. Jay Cohen, Sochanmalisphoung Vannavuth, and Robin Spiess, of Tilleke & Gibbins International Ltd., provide an overview of the 2020 AML/CFT Law, and how it differs from the 2007 in areas such as definitions and penalities.

On August 12, 2020, the amended Law on Land No. 70/NA, dated June 21, 2019 was published in the Official Gazette  of the Lao Ministry of Justice, replacing the previous amendment of the law from 2003. The new law introduces significant changes to the country’s current real estate regulatory framework, and provides legal means to boost investment in and development of the country’s real estate sector.

Practical Law has published the 2020 online version of Electricity Regulation in Thailand: Overview, a Q&A-style guide that provides detailed overviews of power issues and regulations for operators in the Thai electricity market. The Thailand overview is one of 22 such guides to jurisdictions worldwide, covering key practical issues related to the legal environment for agricultural operations.

The economic downturn in Thailand has resulted in increased pressure on Thai debtors. Several banks have forecasted Thailand’s gross domestic product (GDP) to contract 8.1 percent in 2020 due to a more severe than expected COVID-19 pandemic and the containment measures implemented by governments in many countries including Thailand.

On September 9, 2020, Vietnam’s Ministry of Industry and Trade (MOIT) issued Circular No. 21/2020/TT-BCT on the order and procedures for issuance of electricity operating licenses (Circular 21). Circular 21 will take effect on October 26, 2020, replacing Circular No. 36/2018/TT-BCT as amended by Circular No. 15/2019/TT-BCT (together, Circular 36).

On August 26, 2020, the government of Vietnam issued Decree No. 98/2020/ND-CP on the penalties for administrative violations in commercial activities, production and trade of counterfeit and banned goods, and consumer rights protection (Decree 98). Decree 98 will come into effect on October 15, 2020, replacing Decree No. 185/2013/ND-CP as amended in 2015 and 2018 (Decree 185).The administrative penalties and remedial measures under Article 4 of Decree 98 are restructured and more well-organized than in Decree 185, with increased monetary fines for a number of violations.

On September 15, 2020, the Bank of Thailand (BOT) introduced a new type of personal loan—the digital personal loan—under BOT Circular Re: Rules, Procedures and Conditions for the Undertaking of Digital Personal Loan Business. Key features of the new loans are as follows: