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Information Access at Heart of Dispute Involving Thai Petrochemical Industry.
Byline: Busrin Treerapongpichit
Dec. 7--Prachai Leophairatana, the deposed founder of Thai Petrochemical Industry Plc (TPI), has launched a new attack on the company overseeing TPI's business rehabilitation plan, claiming he is being denied access to corporate information.
Mr Prachai said the Central Bankruptcy Court had ordered Effective Planners Ltd (EPL), the plan administrator, to turn over the information.
"Such failure shows that EPL tends to be dishonest and to disobey court orders," Mr Prachai said yesterday.
He said that the court on Nov 27 instructed EPL to allow him or his representative to check and copy documents related to payment of monthly salaries or remuneration to any one employed by the planners or appointed as senior executives of TPI.
But on Nov 29, EPL issued a letter signed by David Giles Maud, a director, demanding that TPI staff report directly to the planner every time they are contacted by Mr Prachai or his representative.
The letter said the staff were not authorised to give information on TPI to the company's former chairman. Should any staff fail to abide by the order, they would face severe punishment, it said.
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