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Supreme Court Accepts Petition from Thai Petrochemical's Creditors.
Byline: Wichit Chantanusornsiri
Jun. 2--The Supreme Court has accepted a petition from creditors of Thai Petrochemical Industry seeking clarification on whether their rights under the bankruptcy law to appoint a plan administrator were violated.
Sources said the petition by creditors was aimed at seeking an interpretation on the bankruptcy court's ruling last year as a guideline for other debt-restructuring cases.
"As far as we are aware, the creditors are only seeking a clarification of the ruling, and are not looking to oppose the current plan administrators in drafting a new plan," one source said.
The Central Bankruptcy Court ...
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Source: HighBeam Research, Supreme Court Accepts Petition from Thai Petrochemical's Creditors.