Bankruptcy and Restructuring

Featured Publication: Thailand Legal Basics: Bankruptcy
Contacts
T: +66 2056 5995
T: +66 2056 5500
T: +84 8 3936 2069
T: +66 2056 5995

T: +66 2056 5995
T: +66 2056 5995

Tilleke & Gibbins helps creditors, debtors, and other stakeholders survive and thrive in uncertain economic times. We help clients reach commercial goals, including achieving maximum value from corporate assets, favorable loan terms, equitable distribution of assets and company closure, and business renewal via reorganization or restructuring. We are innovative in our outlook and zealous in our execution.

Our assistance begins at the inception of a deal. Our banking and finance specialists assist clients in properly documenting commercial lending and other financial transactions. Our proactive approach means that our clients can rely on the documentation to solve future lender-borrower disputes.

Our assistance is multifaceted. When we represent a debtor in an insolvency situation, we may negotiate with creditors on the pre-bankruptcy composition of debts, provide advice on employment and labor matters, defend brands and corporate names, explore the client’s tax exposure, and obtain protection for directors through contractual arrangements.

Our dedicated bankruptcy and restructuring group is supported by experts in commercial transactions and M&A, corporate services, dispute resolution and litigation, employment, insurance, intellectual property, property, and tax. By working across legal disciplines, we provide our clients with solutions that are comprehensive, practical, and durable.

Among our recent matters, we have:

  • Obtained court approval of a bankruptcy claim in the amount of nearly THB 120,000,000. Our representation included submitting the application for debt repayment, providing supplemental explanations and evidence, and proving our client’s right to the sum.

  • Obtained court approval of bankruptcy claims in  amounts of over THB 75,000,000 (company 1), THB 75,000,000 (company 2), and THB 150,000,000 (company 3). Our representation included submitting the application for debt repayment, providing supplemental explanations and evidence, and proving our clients’ right to the sums.

  • Assisted a client with business reorganization. Our representation included providing legal advice, preparing and submitting the debt repayment application, attending the creditors’ meeting, and attending court hearings.

  • Represented a client in a bankruptcy case. Our representation included providing legal advice, preparing and submitting a petition for an absolute receivership order and the debt repayment application, attending various meetings with the official receiver, and attending court hearings.

  • Facilitated the restructuring of large commercial entities, including a U.S.-Thai Treaty of Amity company engaged in engineering and construction.

  • Assisted our client, a jewelry exporter, with its claim under trade credit insurance and in recovering on its claim in bankruptcy proceedings filed against the client’s trading partner pursuant to the United States Bankruptcy Code. The combined recovery rates from the bankruptcy and insurance policy claims exceeded 95% of the client’s exposure.

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Name Position Office

Chusert Supasitthumrong

T:+66 2056 5793

E-mail

Partner
Bangkok

Cynthia M. Pornavalai

T:+66 2056 5559

E-mail

Partner
Bangkok

Kasamesunt Teerasitsathaporn

T:+66 2056 5799

E-mail

Partner
Bangkok

Michael K. Lee

T:+84 8 3936 2069

E-mail

Partner
Ho Chi Minh City

Piyanuj (Lui) Ratprasatporn

T:+66 2056 5533

E-mail

Partner
Bangkok

Santhapat Periera

T:+66 2056 5995

E-mail

Partner
Bangkok
Vientiane
Yangon

Thawat Damsa-ard

T:+66 2056 5500

E-mail

Partner
Bangkok

Athistha (Nop) Chitranukroh

T:+66 2056 5600

E-mail

Of Counsel
Bangkok

Alongkorn Tongmee

T:+66 2056 5807

E-mail

Associate
Bangkok

Chitchai Punsan

T:+66 2056 5779

E-mail

Associate
Bangkok
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Datesort icon Title
October 12, 2012

Euromoney Asia Women in Business Law Awards: Tilleke & Gibbins Shortlisted in Four Categories

Darani Vachanavuttivong, Tiziana Sucharitkul

On November 22, 2012, the Euromoney Legal Media Group will hold its second annual Asia Women in Business Law Awards at the Renaissance Harbour View Hotel in Hong Kong. Again this year,...

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September 3, 2012

European Chambers of Commerce to Hold Breakfast Talk on Flood Preparations

David Duncan

The Franco-Thai, Thai-Italian, Belgian-Luxembourg-Thai, and Netherlands-Thai Chambers of Commerce are jointly hosting a seminar, “Floods: Are You Ready? Legal Aspects of the Floods 2011 and What...

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February 1, 2012

Tilleke & Gibbins Elevates Michael K. Lee to Partner

Michael K. Lee

Tilleke & Gibbins is proud to announce the appointment of Michael K. Lee as a Partner of the firm, effective January 1, 2012.

Michael counsels clients and manages cases on a wide range...

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December 28, 2011

Oxford Business Group and Tilleke & Gibbins Seal Third Partnership for 2012 Publication

Tiziana Sucharitkul

Oxford Business Group (OBG), the global publishing, research and consultancy company, has renewed its partnership with Tilleke & Gibbins for its latest report on Thailand’s economy.

As...

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December 22, 2011

Tilleke & Gibbins Shortlisted for Thailand Firm of the Year Award by Chambers Asia-Pacific

Darani Vachanavuttivong, Tiziana Sucharitkul

Tilleke & Gibbins has been nominated for the Thailand Firm of the Year Award by Chambers Asia-Pacific, a leading guide to the legal profession in the region. The Chambers Asia-Pacific...

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Datesort icon Title
February 6, 2017

PLC Doing Business in … Global Guide 2017 – Vietnam Chapter

Attorneys from Tilleke & Gibbins have written the Vietnam chapter of Practical Law Company’s Doing Business in … Global Guide, an essential handbook for businesses looking to expand...

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January 24, 2017

PLC Doing Business in … Global Guide 2017 – Thailand Chapter

Michael Ramirez, Kasma Visitkitjakarn, Sriwan Puapondh, Darani Vachanavuttivong

The 2017 edition of Doing Business In…, a Q&A-style guide published by Practical Law Company in collaboration with Lex Mundi, presents an overview of...

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November 11, 2016

New Rehabilitation Regulations: Survival Tools for SMEs

Theerapat Sombatsatapornkul

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...

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August 30, 2016

Business Reorganization in Thailand: Steps and Procedures

Chusert Supasitthumrong

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 can lead to a vicious downward...

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July 13, 2016

Thailand: Amendments to Bankruptcy Act Provide Greater Protection for SMEs

Cynthia M. Pornavalai, Luxsiri Supakijjanusorn

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

Prior to the amendments, the Bankruptcy...

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