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
July 31, 2017

Tilleke & Gibbins Nominated for Three TrustLaw Pro Bono Awards

In recognition of Tilleke & Gibbins’ pro bono practice, our firm has been nominated for the following awards at the 2017 TrustLaw Awards:

May 23, 2017

Who’s Who Legal Recognizes Tilleke & Gibbins with 2017 Country Award for Thailand

Tiziana Sucharitkul, Darani Vachanavuttivong

Tilleke & Gibbins has won the 2017 Who’s Who Legal Country Award for Thailand at a ceremony that took place at Plaisterers’ Hall in London on May 15. This is the second year that the Thailand...

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April 12, 2017

Tilleke & Gibbins Named ALB Employer of Choice 2017

For the fifth year in a row, Tilleke & Gibbins has been named “Employer of Choice” in Thailand in a survey conducted by Asian Legal Business.

The rankings were determined...

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April 12, 2017

ALB Southeast Asia Law Awards 2017: Tilleke & Gibbins Earns Nominations in Four Categories

Tilleke & Gibbins has been nominated for two national categories and two regional categories in the Asian Legal Business  Southeast Asia Law Awards 2017. This year’s winners will...

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February 1, 2017

Chambers Asia-Pacific Awards 2017: Tilleke & Gibbins Top Contender for Thailand Law Firm of the Year Award

Darani Vachanavuttivong, Tiziana Sucharitkul

Tilleke & Gibbins has been nominated for the Thailand Law Firm of the Year Award 2017 by Chambers Asia-Pacific. The firm has been nominated for the award six times since 2010, and was...

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Datesort icon Title
April 16, 2009

Bangkok Report – The Songkran (Thai New Year) Skirmish of 2009

David Lyman

This open letter from David Lyman to the clients of Tilleke & Gibbins addresses the events that unfolded in April 2009, when political demonstrations—sometimes violent—took place in Bangkok...

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March 13, 2009

Temporary Cessation of Operations: An Option to Weather the Downturn

Tiziana Sucharitkul, Chusert Supasitthumrong

Under the current period of global economic recession when there is a decline in consumption and therefore a reduction in trade, many businesses are trying to find ways to survive. In Thailand,...

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January 27, 2009

Thailand – Still a Paradise?

David Lyman

Within the past two years, Thailand has experienced a number of events that have called into question the country’s political stability. In this article, David Lyman puts these events into...

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December 9, 2008

Bankruptcy Law in Thailand

Cynthia M. Pornavalai

The 1997 Asian financial crisis had crippled many Asian economies in its wake, but it had also left behind it a lasting legacy to the economies that it ravaged. Faced with sharp economic slowdown...

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November 17, 2008

Bankruptcy Law in the Kingdom of Thailand

Cynthia M. Pornavalai

This article provides a thorough overview of Thailand’s bankruptcy system, liquidation, and business reorganization processes. Relevant laws and procedures are cited throughout the document for...

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