Thai bankruptcy court grants Thai Airways' business restructuring petition

Thailand's Central Bankruptcy Court granted (14-Sep-2020) Thai Airways' business restructuring petition and appointed the following planners as nominated by Thai:

• Chaiyapruk Didyasarin;
• Chakkrit Parapuntakul;
• Pirapan Salirathavibhaga;
• Boontuck Wungcharoen;
• Piyasvasti Amranand;
• Chansin Treenuchagron;
• EY Corporate Advisory Services.

The planners will prepare the plan as soon as possible and it is expected that Thai will propose the reorganisation to the Court within 4Q2020. The official receiver will call a creditors' meeting to consider the restructuring around early 2021 and the Court will issue an order approving the plan and appoint the plan administrator within 1Q2021. [more - original PR]