Bankruptcy and Restructuring

Featured Publication: Thailand Legal Basics: Bankruptcy
Contacts
T: +66 2056 5995
T: +66 2056 5500
T: +84 24 3772 5633
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

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

Alongkorn Tongmee

T:+66 2056 5807

E-mail

Associate
Bangkok

Chitchai Punsan

T:+66 2056 5779

E-mail

Associate
Bangkok

Ittirote Klinboon

T:+66 2056 5798

E-mail

Associate
Bangkok

Nuanchun Somboonvinij

T:+66 2056 5800

E-mail

Associate
Bangkok
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Datesort icon Title
November 30, 2017

Legal 500 Lauds Tilleke & Gibbins with a Tier 1 Ranking in Laos

The Legal 500 Asia Pacific  has ranked Tilleke & Gibbins as a Tier 1 Leading Firm in Laos—a status only awarded to one other law firm in the country.

The Legal 500...

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November 30, 2017

Tilleke & Gibbins Among Top Firms in Cambodia in Legal 500 Asia Pacific 2018

In its first survey of the Cambodian legal market, The Legal 500  has awarded Tilleke & Gibbins a Tier 2 ranking, placing it in the top six firms in the country.

The...

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November 29, 2017

Tilleke & Gibbins Wins Three Asialaw Firm of the Year Awards

Tilleke & Gibbins has received high accolades for its exceptional regional practice at the inaugural Asialaw Asia-Pacific Legal Practice Awards, where it was named Southeast Asia Firm of the...

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November 15, 2017

Asialaw Profiles 2018: Tilleke & Gibbins Leads Rankings in Thailand

Regional law firm Tilleke & Gibbins has again distinguished itself as the dominant domestic law firm in Thailand in Asialaw Profiles 2018, a guide to the top domestic and regional...

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November 10, 2017

Asia Women in Business Law Awards 2017: Tilleke & Gibbins Wins Two Awards

Tilleke & Gibbins took home two trophies at the seventh annual Asia Women in Business Law Awards, being recognized as Firm of the Year for Vietnam as well as Best National Firm for Talent...

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Datesort icon Title
March 9, 2010

PLC Cross-border Doing Business in … Handbook 2010 – Thailand Chapter

Chinachart Vatanasuchart, Kobkit Thienpreecha, Siraprapha Rungpry, Sriwan Puapondh

This chapter provides an overview of the legal system and key laws for foreign companies doing business in Thailand. Presented in a question-and-answer format, the chapter examines the rules...

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October 29, 2009

Lawyer’s Obligation: Confidentiality of Client Information in Thailand

David Lyman, Alongkorn Tongmee

This paper answers a number of important questions about the role of client confidentiality within the Thai legal system. Key points include the regulations governing confidentiality, the limits...

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October 14, 2009

Responding to Crisis

Cynthia M. Pornavalai

Whilst Thailand’s bankruptcy laws have come some way on the domestic front since the Asian financial crisis, the recognition of foreign insolvency proceedings remains out of reach. This article...

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September 11, 2009

Closing a Business: Liquidation or Bankruptcy?

Cynthia M. Pornavalai

During these tough economic conditions, closing a business may seem to be the only alternative for a lot of companies. However, doing so is not as easy as removing the sign and closing the doors....

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May 22, 2009

Layoffs: Any Firm’s Final Choice

Chusert Supasitthumrong

In the current climate of the global economic crisis and with Thailand’s economy in recession, many businesses are desperately searching for ways to survive. If the decision has been taken that it...

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