On 26th May 2020, Thai Airways International PCL (“TG”) filed a petition for its business reorganization (rehabilitation) with the Central Bankruptcy Court (“CBC”). The CBC accepted the petition for consideration and issued its Announcement on the Business Reorganization of TG on 16th June 2020 to notify the company registrar, the official receiver and the creditors of TG that the CBC had scheduled 17th August 2020 for hearing of the petition and that any creditor who wishes to object the petition can submit an objection to the CBC within 13th August 2020, otherwise it will be deemed that there is no objection.
On 17th August 2020 if the CBC grants the petition, the CBC will order appointment of a planner or planners as proposed in the petition to prepare a rehabilitation plan of TG.
All the creditors of TG must file applications for debt payment (trade creditors) or debt repayment (financial creditors) within 1 month from the publication date of the CBC’s order for appointment of the planner(s) in the Government Gazette, otherwise they will lose their rights of claim against TG.
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