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April 28, 2011

Debt Recovery Procedures

Informed Counsel

In times of economic recession there is usually an increase in the volume of litigation cases, as many companies struggle to pay their debts and creditors are often forced to pursue civil or bankruptcy claims in an attempt to recover payment. Although Thailand is not in recession, the number of bankruptcy claims filed and the number of court orders for absolute receivership has drastically risen over the last few years. In 2009, there were 23,975 orders for absolute receivership compared to 9,978 the previous year, according to statistics from the Central Bankruptcy Court. This article examines the strategies and procedures available for recovery of debts in Thailand.

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Sally Mouhim