On August 14, 2020, Kudun Sukhumananda, our founding partner, led the first meeting involving the largest group of creditors in Thai Airways Public Company Limited (“THAI”) business rehabilitation proceeding, Thailand’s largest-ever business rehabilitation proceeding to date, with debts estimated to be in excess of THB 352.49 billion (approximately USD 11.34 billion).
A total of 87 savings co-operatives; consisting of state-owned enterprises, universities, corporations and hospitals; holding an aggregate debt of THB 45.65 billion or approximately 65% of the airline’s debenture debts and 13% of the airline’s total debt, attended the meeting.
Also leading the meeting is Police Lt. General Wiroj Satayasansakul, พลตำรวจโทวิโรจน์ สัตยสัณห์สกุล, Chairman of Thailand’s Board of the Savings Co-operatives Community and Chairman of Thailand’s Office of the Savings Cooperative Community Office Ltd. of Nonthaburi Province, and Niruch Winiyakul, partner of our firm’s Dispute Resolution and Litigation Practice Group.
