Showing 1-9 of 9 results
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Reviving dead companies using Thai law
Business, Tilleke & Gibbins International Ltd, Published on 14/11/2014
» Death is not always final, at least not for juristic persons under Thai law. Under certain circumstances, companies can be revived after being legally declared defunct or dissolved. This article will discuss how and when such companies can be restored.
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Creditors' claims for debt repayment in reorganisation
Business, Tilleke & Gibbins International Ltd, Published on 08/07/2016
» Thailand's economy does not paint an image that befits the country's reputation as the "Land of Smiles". Politics, drought, floods and conflict in the Deep South have taken their toll on Thai businesses. As a result, we have seen a steadily rising number of business reorganisations over the past few years. This article outlines Thailand's business reorganisation procedures and how creditors can collect debts from companies involved in reorganisation.
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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.
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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.
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Enforcement of loan guarantees to change under new laws
Business, Tilleke & Gibbins International Ltd, Published on 09/01/2015
» New amendments to the Civil and Commercial Code will change the way loan guarantees are enforced in Thailand. Under the changes, which are due to take effect on Feb 11, guarantors will benefit from increased protection, as contracts imposing joint liability between a debtor and a guarantor will be void.
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Breach of Contract: Rescind or Perform?
Business, Tilleke & Gibbins International Ltd, Published on 21/02/2014
» When a contract is breached, or a party does not perform its obligations, this does not instantly affect the validity of a contract. It will continue to be valid and binding unless it is rescinded.
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Expanding the potential for secured transactions
Business, Tilleke & Gibbins International Ltd, Published on 14/06/2013
» Secured transactions refer to transactions secured by collateral, which guarantees the fulfilment of an obligation to repay loans. Currently, Thailand recognises only a limited class of security that can be put up as collateral, effectively limiting the potential for greater credit availability in the economy. This article examines the types of security available under other jurisdictions as well as registration and common enforcement mechanisms with an eye towards potential use in Thailand.
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Creditors rights over the life insurance of debtors
Business, Tilleke & Gibbins International Ltd, Published on 03/05/2013
» A person's debts do not come to an end just because he or she has died. After the debtor has passed away, the creditor is entitled to seek repayment of the debt from the debtor's estate. Some debtors have life insurance under which the insurer will pay compensation to the beneficiaries stated in the policy, the debtor's heirs where no beneficiaries are specified in the policy and, in certain cases, the debtor's creditors.
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Bankruptcy liability for business partners
Business, Tilleke & Gibbins International Ltd, Published on 20/04/2012
» A partnership begins with a splash of optimism, a toast to the future and a plan for capitalising on business opportunities. But what happens when it all goes wrong? Aggressive creditors may force a partnership into bankruptcy and certain individual partners may be required to follow. This article is a primer on the bankruptcy liability of partners.
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