Showing 11 - 20 of 57
Reorganisation: Business survival during a crisis
Business, Tilleke & Gibbins International Ltd, Published on 08/01/2016
» Thailand is no stranger to tumultuous events, be it unrest in the Deep South, widespread flooding, economic slowdowns in trading partners, domestic protests, exchange rate instability, global economic crises or flailing tourism.
Challenging the constitutionality of laws in the absence of a constitution
Business, Tilleke & Gibbins International Ltd, Published on 27/11/2015
» Since 1932, Thailand has had 17 constitutions. During periods of non-elected regime change, usually following military coups, constitutions have been abrogated with interim charters put in place pending the approval of "permanent" constitutions.
Customs audits: understand the process and minimise your liability
Business, Tilleke & Gibbins International Ltd, Published on 30/10/2015
» It is common for Thai Customs Department officials to audit companies that import or export goods. The audits are generally random, and they almost always include a surprise inspection. Importers are rarely informed in advance by customs officials.
The single-shareholder companies law and its expected impact on SMEs
Business, Tilleke & Gibbins International Ltd, Published on 16/10/2015
» In 2008, amendments to the Civil and Commercial Code (CCC) reduced the minimum number of shareholders required to incorporate a limited company to three from seven. This change seemed to encourage new business registration, as the number of newly incorporated juristic persons in Thailand has increased at an average rate of 8% per year since then except for 2009 and 2014.
Termination for Serious Fraud: Tamping Out Smouldering Embers
Business, Tilleke & Gibbins International Ltd, Published on 02/10/2015
» Fraud, which is both a civil and criminal wrong, involves a deliberate deception to secure an unfair or unlawful gain. Employees commit fraud of varying degrees for many reasons including financial, peer pressure and patronage obligations. In Thailand, most employee fraud is viewed as minor and goes unpunished even if detected. Serious fraud is another matter.
Thailand's new alcohol labelling and message requirements
Business, Tilleke & Gibbins International Ltd, Published on 18/09/2015
» On Jan 22, the government issued a new notification, published in the Royal Gazette, setting out controversial labelling and message restrictions for alcoholic beverages that could result in major losses for the alcohol industry. It is being challenged before the Administrative Court, but pending the outcome of that case it has been in effect since April 22.
Thailand's new debt collection law provides a measure of protection
Business, Tilleke & Gibbins International Ltd, Published on 21/08/2015
» Debt collection has long been associated with deceptive and unscrupulous practices. In Thailand, it is not uncommon to hear stories of collectors tricking debtors into paying by giving false information or even resorting to abusive language, violence and blackmail.
Legal changes affect guarantors' rights and obligations
Business, Tilleke & Gibbins International Ltd, Published on 10/07/2015
» Guarantors are subject to a number of important obligations under Thai law. A guarantor can be held jointly liable with a debtor, or worse, solely and entirely liable as a primary debtor. In addition, creditors often use their higher bargaining power to force guarantors to waive their rights as secondary debtors, meaning that certain fundamental rights, such as the requirement for creditors to first call on debtors, are no longer enforceable.
Class actions arrive in Thailand: will the law of unintended consequences prevail?
Business, Tilleke & Gibbins International Ltd, Published on 15/05/2015
» In December of this year, amendments to the Civil Procedure Code allowing for class-action lawsuits will come into force. If the effects on the legal systems of other jurisdictions are good indicators, the Thai legal landscape will undergo a fundamental shift. This article will introduce class actions generally and then look at the new legislation and its potential impact.
Catch me if you can: Cases of stock manipulation
Business, Tilleke & Gibbins International Ltd, Published on 20/03/2015
» Last year, 23 people were alleged to have been involved in the manipulation of three separate stocks. The investigations and prosecutions in these cases are ongoing. In light of recent events, this article explains the crime of stock manipulation, discusses the seminal Supreme Court decision on the matter and identifies a potential new tool of enforcement for private citizens through the recently passed class action legislation.