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April 27, 2011

Creditors’ Claims in Bankruptcy Actions

Bangkok Post, Corporate Counsellor Column

The continuous rise in oil prices over the past two years has reached an unprecedented level. The reason for such a sharp rise is the source of much debate. However, what is clear is the devastating effect high oil prices are having on the performance of many businesses in Thailand. The records of the Justice Court Office reveal that the number of bankruptcy cases and cases of dishonoured cheques has steadily increased over the same two-year period. This has a knock-on effect throughout the economy as other businesses suffer as a result of the failure of these bankrupt businesses to pay their debts. This outlines the procedure for making a claim for debt repayment in bankruptcy proceedings.

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