On May 26, 2020, Thai Airways International PCL submitted a petition for business rehabilitation, including a list of creditors, to the Central Bankruptcy Court. The court accepted the petition for consideration on the following day, and has scheduled a hearing for 9:00 a.m. on August 17, 2020, to determine whether Thai Airways should enter business rehabilitation. The court is now in the process of sending a copy of Thai Airways’ petition to the creditors whose names appear in the creditor list.

Thailand’s Official Receiver recently issued an important announcement relevant to all existing or potential creditors of Thai Airways International Public Company Limited (“Thai Airways International”). The announcement details the Central Bankruptcy Court’s Order for rehabilitation of Thai Airways International and was published in the Royal Gazette on October 2, 2020.

For aircraft leasing companies, having to repossess an aircraft from an airline that misses its rental payments is usually an option of last resort. The repossession process in Thailand can be time-consuming and costly, and often precludes future earnings. However, as a number of Thai airlines have defaulted on their payments over recent years, lessors have been left with no choice but to seek recovery of their valuable assets. This article provides an overview of the practical and legal considerations of aircraft repossession in Thailand.

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.

Dissolved vs. Defunct