Bankruptcy and Restructuring

Featured Publication: Guide to Bankruptcy Law in Thailand 2020
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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August 13, 2020

Dr. Ross Taylor and Nwe Oo to Deliver Webinar on Myanmar’s New Insolvency Law

Nwe Oo, Ross Taylor

Earlier this year, the government of Myanmar introduced the new Insolvency Law 2020 and Insolvency Rules 2020, which have effectively modernized the legal framework for corporate insolvency and...

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July 20, 2020

John Frangos to Speak on Thai Airways Business Rehabilitation at NYSBA Meeting

John Frangos

On July 21, John Frangos, partner and deputy director of Tilleke & Gibbins dispute resolution group and head of...

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July 14, 2020

Tilleke & Gibbins Highlighted in WTR Article on Diversity and Inclusion in Asian Law Firms

In a research project to celebrate Pride Month 2020, World Trademark Review  (WTR) recently set out to explore the landscape of diversity and inclusion initiatives in...

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July 3, 2020

Asialaw Awards 2020: Tilleke & Gibbins Nominated for Three National Firm of the Year Awards

Tilleke & Gibbins has been nominated for three Firm of the Year Awards at the third Asialaw Regional Awards—an Asia-wide awards ceremony recognizing the best law firms across the region. The...

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June 25, 2020

Nuanchun Somboonvinij Joins Debtor Management Webinar Cohosted by Tilleke & Gibbins and Marsh

Nuanchun Somboonvinij

On July 2, Nuanchun Somboonvinij, attorney-at-law in Tilleke & Gibbins’ dispute resolution group in Bangkok, will...

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October 27, 2020

Thai Airways Insolvency Proceedings – Creditor Repayment Application Deadline

John Frangos

Thailand’s Official Receiver recently issued an important announcement relevant to all existing or potential creditors of Thai Airways International Public Company Limited (“...

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October 15, 2020

The Interplay of Insolvency Law and Arbitration in Thailand

Noppramart Thammateeradaycho

The economic downturn in Thailand has resulted in increased pressure on Thai debtors. Several banks have forecasted Thailand’s gross domestic product (GDP) to...

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September 23, 2020

Bankruptcy Court Approves Business Rehabilitation for Thai Airways

John Frangos

On September 14, 2020, Thailand’s Central Bankruptcy Court approved Thai Airways to enter into a court-supervised business rehabilitation (restructuring). The airline’s...

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September 18, 2020

Tilleke & Gibbins Guide to Bankruptcy Law in Southeast Asia

The COVID-19 pandemic has ushered in widespread economic turmoil, with quarantines, business closures, and precipitous declines in consumer and business spending causing momentous shifts in...

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August 31, 2020

Myanmar's 2020 Insolvency Law

Nada Songsasen

Myanmar’s new Insolvency Law (IL) came into effect on February 14, 2020, replacing the Yangon Insolvency Act 1909 and the Myanmar Insolvency Act 1920. The long-awaited replacement law was soon...

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