29 October 2020
Mr. Chansin Treenuchagron, Acting President and Member of the Board of Directors, Thai Airways International Public Company Limited (THAI), revealed that on 14 September 2020, the Central Bankruptcy Court issued an order for THAI’s business reorganization and appointed the planner as nominated by THAI. According to the legal procedures, THAI’s creditors (i.e. the creditors of monetary debt whose the cause of debt arose prior to the date that the Central Bankruptcy Court issued an order for THAI’s business reorganization, irrespective of whether the debt is due or not, which includes trade debt, rent, debentures, etc.) must file the application for debt repayment to the official receiver, the Legal Execution Department in order to ensure they will not lose their rights in receiving debt repayment. In this regard, the Legal Execution Department has notified the court’s order to the creditors and published the court’s order on various channels in order to inform the creditors to submit the application for debt repayment. The deadline for submission of the application for debt repayment is 2 November 2020. The creditors do not need to wait until the deadline and can proceed with the submission of the application for debt repayment straight away.
All creditors can register for the submission of the application for debt repayment by themselves at home via the Legal Execution Department’s online system at http://www.led.go.th/tgreorg/index.asp or via the QR Code as shown below.
Alternatively, if any creditor is facing difficulties in submitting the application for debt repayment by itself via online system, such creditor may bring the documents to apply for debt repayment at following service points.
1. The THAI Head Office at Vibhavadi Rangsit Road, Building 1, 1st Floor
2. The Legal Execution Department at Bang Khun Non Road, the Legal Execution Offices nationwide, the Management Center for Bankruptcy Claims (The Government Complex, Chaengwattana Road, Building A, 1st Floor)
3. The Securities and Exchange Commission (SEC) (for debentures)
The creditors can submit its application for debt repayment at any time via online system. The online submission system will close on 2 November 2020 at 16.30 hours. For the aforementioned service points, the operating hours are from 8.30 – 16.30 hours, excluding weekends.
In this regard, the creditors must prepare information relating to the amount of debt, in which the interest is calculated until the date the Court issued the order for business reorganization and appointment of planner, as well as the documentary evidence, i.e. the identification document (e.g. the identification card, passport, or power of attorney), the evidence of debt (e.g. the copy of debenture certificate, copy of agreement, copy of purchase order, invoice), etc. The creditors should prepare all required documents to support its application for debt repayment for their own benefit.
If any inquiries arise with regard to the submission of application for debt repayment, the creditor may find information at the Legal Execution Department's website at www.led.go.th and THAI’s website: www.thaiairways.com or call 02 887 5026 - 29 and 02 887 5052 (The Legal Execution Department) or 02 887 5095 -97 (The Business Reorganization Division) or 02 356 1111 ext. 8 (THAI’s call center).
THAI reiterates that the creditors must completely submit their application for debt repayment by this 2nd November, which is the last day, at 16.30 hours (Bangkok time). Otherwise, such creditor may lose its legal rights in receiving debt repayment.
In the next step, THAI will inform the creditors of the progress of the business reorganization plan and invite them to share their opinions in due course. THAI pledges to fulfill its commitments to all creditors under the business reorganization process. In this regard, THAI’s customers may find any news updates and learn about their rights at THAI’s website at www.thaiairways.com.