Bangkok airport protest leaders face bankruptcy over 522 million baht compensation order
The Central Bankruptcy Court has dealt a decisive blow to 11 pivotal figures of the dissolved People Alliance for Democracy (PAD) by issuing an absolute receivership order against them. This verdict relates to their involvement in protests that resulted in the closure of Bangkok’s two primary airports.
The court order, made public via the Royal Gazette, gives an assigned receiver the power to manage the assets of these eleven individuals as per Section 22 of the Bankruptcy Act, which springs into effect following the receivership order.
This group includes high-profile individuals such as Chamlong Srimuang, Sondhi Limthongkul, Pibhop Dhongchai, Suriyasai Katasila, Somsak Kosaisuk, Chaiwat Sinsuwong, Amornthep Ratchayut, Samran Rodphet, Sirichai Maingam, Maleerat Kaewka, and Therdphum Jaidee.
The crux of this receivership order is the bankruptcy lawsuit that was initiated by the Airports of Thailand (AoT). The AoT has been steadfast in its pursuit of compensation for damages inflicted by the PAD’s seizure of Don Mueang and Suvarnabhumi airports back in 2008.
As reported by Bangkok Post, the Civil Court mandated 13 PAD affiliates to compensate AoT over 522 million baht as part of a significant ruling dating back to March 2011, coupled with an annual interest rate of 7.5% commencing from December 2008.
A turn of events in 2015 saw the Appeal Court reinforcing the lower court’s verdict. However, the defendants missed the deadline to challenge the ruling and their subsequent plea for an extension was dismissed.
In light of the recent order, those who hold or owe assets belonging to these individuals are required to report them to the receiver within a month of being informed by the receiver.
Concurrently, their creditors, irrespective of their role as plaintiffs, are obliged to submit a request for debt repayment to the receiver within two months of the court order’s publication in the Royal Gazette.
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