Phuket

Property auction sparks protest

Published

Saturday, December 7, 2002 15:09

PHUKET TOWN: About 50 people gathered outside the Merlin Hotel this morning to protest the sale of repossessed houses and land by Bangkok Bank. Noppon Siemhan, a lawyer and member of Phuket Property Protection, said that many properties at today’s auction would be sold at 50%-80% of the original value. “I think they should give a discount of 50%-80% to their debtors, not [to buyers] for this auction sale,” he said. “Many debtors want to redeem their properties but Bangkok Bank will not agree. “Because of the economic depression, the bank has many debtors. We’d like the government to help us because it’s unfair.”

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