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

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.

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

Yeni Gelişme

Koronavirüs (COVID-19) salgın hastalığının Türkiye'de yayılmasını önlemek amacıyla hükümet tarafından alınan tedbirler kapsamında Cumhurbaşkanı tarafından İcra ve İflas Kanunu'nun ("İİK") "Fevkalade Hallerde Tatil" başlıklı 330. maddesinde kendisine verilen yetkiye dayanarak verilen "İcra ve İflas Takiplerinin Durdurulması Hakkında Karar", 22.3.2020 tarihinde yürürlüğe konmuştur.

Karar Ne Diyor?

As per Presidential Decree numbered 2279, published in the Official Gazette numbered 31076 on 22 March 2020 ("Presidential Decree") as part of the measures taken to prevent the spread of the COVID-19 epidemic, all enforcement and bankruptcy proceedings across the country have been suspended, save for proceedings related to alimony payments, and any proceedings thereof will not be carried out from 22 March 2020 until 30 April 2020.

Recent Development

In scope of the various response measures implemented by the Turkish government to prevent the spread of the coronavirus (COVID-19) in Turkey, the President of the Turkish Republic issued the "Decree to Suspend Enforcement and Bankruptcy Proceedings" on March 22, 2020, in accordance with Article 330, "Suspension In Case of Emergency", of the Enforcement and Bankruptcy Law ("EBL").

What Does the Decision Say?

1. Within the context of the measures taken for combating COVID-19, how will the courthouses function?

The courthouses across the country are open and active. That being said,

7226 Sayılı Bazı Kanunlarda Değişiklik Yapılmasına Dair Kanun (“Torba Kanun”) 26.03.2020 tarih ve 31080 sayılı (mükerrer) Resmî Gazete’de yayımlanmıştır. Kanun, Türkiye Büyük Millet Meclisi (“TBMM”) 24 Mart 2020 tarihli Genel Kurulu’nda görüşülerek kabul edilen ve Korona virüs (“Covid-19”) salgınıyla mücadele kapsamında tedbirlerin yer aldığı 196 Sıra Sayılı Bazı Kanunlarda Değişiklik Yapılmasına Dair Kanun Teklifi (“Kanun Teklifi”)’nin yasalaşmış hali olduğundan büyük önem arz etmektedir.