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.

In a decision that may have implications for holders of community development district bonds and other similar “dirt bonds,” a Florida bankruptcy court has ruled that holders of community development district bonds do not always have plan voting rights when the underlying developer — as opposed to the development district itself — is the bankruptcy debtor.

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).