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.

During the COVID-19 crisis, with the exception of ensuring the health of their employees, business operators will be primarily concerned with their overall financial condition. Lock down policies and social distancing campaigns may minimize possibilities of the deadly virus to spread more widely; at the same time, however, these policies can also cause various businesses to encounter substantial decline of their revenues due to their inability to operate as usual, which unavoidably leads to illiquidity of internal cash flow, and in the worst case, insolvency.

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.

In order to receive royalties, a trademark owner may license out its trademark rights to another party. To license trademark rights, a trademark license agreement must be made in writing and registered at the Department of Intellectual Property (DIP), in accordance with Section 68 of the Thai Trademark Act. If a trademark license agreement is not registered, it will be void, according to Section 152 of the Civil and Commercial Code and the support of various Supreme Court judgments (Decisions 7770/2547, 6436/2543, and 6190/2550).

Thailand's amended Bankruptcy Act (No. 9) B.E. 2559 (2016) (the "Amendment") was published in the Royal Thai Government Gazette on 24 May 2016 and came into force on 25 May 2016. The Amendment is specifically aimed at small and medium-sized enterprises (SMEs). It introduces a new scheme which allows SMEs to enter into Court-supervised business rehabilitations.

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 reorganizations over the past few years. This article outlines Thailand’s business reorganization procedures and how creditors can collect debts from companies involved in reorganization.

Recent amendments to Thailand’s Bankruptcy Act which came into force on May 25, 2016, will provide SMEs with greater protection against bankruptcy.

In order to repay debts, many flailing companies allocate additional resources to uncover new sources of income. In turn, these companies incur more debt, and this often leads to a vicious downward spiral ending in bankruptcy.

Despite this bleak outlook, these companies still have the potential to recover and become profitable. One way is through reorganization, which provides relief to debtors that allows them to survive the crisis while ensuring that their creditors receive fair repayment.

Small and medium-sized enterprises (SMEs) have grown rapidly in Thailand over the past ten years, creating millions of jobs and contributing to the Kingdom’s steady economic growth. According to the 2015 annual report of the Office of SMEs Promotion (OSMEP), there were approximately 2.7 million SMEs at the end of 2015, employing around 10 million people, particularly in the tourism, construction, and wholesale sectors.

Thailand introduced reforms to its bankruptcy laws in 1998 in the aftermath of the 1997 Asian financial crisis. Those reforms introduced business reorganisation provisions similar to the Chapter 11 provisions of the US Bankruptcy Code. Further amendments have been made to the Thai bankruptcy laws, which are now governed by the Bankruptcy Act BE 2483 (1940) as amended by the Bankruptcy Act (No. 7) BE 2547 (2004).