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Thai Petrochemical Head Fights Creditors' Bid to Oust Him.
Nov. 5--Creditors of TPI Polene have no legal right to vote for a change in plan administrators, according to Prachai Leophairatana, the TPI Polene chief executive currently in charge of the plan.
Mr Prachai said any change in plan administrators of the cement company would need formal approval from the Central Bankruptcy Court.
Mr Prachai, founder of the indebted Thai Petrochemical Industry group, is overseeing TPI Polene's rehabilitation plan involving debts of US$1.2 billion.
But the creditors' steering committee, led by the German development bank Kreditanstalt fur Wiederaufbau and Bangkok Bank, issued a notice to TPI Polene on Oct 28 that a ...
- CEMEX Announces Significant Progress Towards Finalizing a Negotiation With...
- Press release article from: Business Wire September 24, 2001 700+ words
...controlling stake in Thailand's TPI Polene subject to several conditions...the plan administrator, Mr. Prachai Leophairatana TPI Polene's CEO, under the rehabilitation...program of Thai cement producer TPI Polene, and would be subject to the...
- Thailand's TPI Polene Hints at Bond Issue to Follow Share Offering.
- Newspaper article from: Bangkok Post (Bangkok, Thailand) January 13, 2004 700+ words
...Treerapongpichit Jan. 13--TPI Polene Plc plans to issue...refinancing, according to Prachai Leophairatana...restructuring plan. Mr Prachai said the company...bonds. Earlier, TPI Polene had asked the bank...950 million. Mr Prachai said he hoped to...interest owed by TPI ...
- Asset Overhaul Will Tidy Up Books at Thai Petrochemical Industry, TPI Polene.
- Newspaper article from: Knight Ridder/Tribune Business News August 21, 2003 700+ words
...Plc (TPI) and TPI Polene Plc will be restructured...said, TPI founder Prachai Leophairatana would...The planners, Mr Prachai, creditors' representatives...restructuring plan. TPI Polene, the country...s operations. TPI Polene creditors, which...proposals by Mr ...
- TPI Polene auction draws only one bid: Offered price B11.50 below market level.
- Newspaper article from: Bangkok Post (Bangkok, Thailand) September 23, 2005 700+ words
...auction of a 249-million-share block of TPI Polene, made by a Thai construction company...reflected investor uncertainties over Prachai Leophairatana, the TPIPL founder and...up mostly of directors appointed by Mr Prachai, was frustrated after the Central Bankruptcy...
- TPI Polene Creditors Demand Evidence of Backup from Thai Bank.
- Newspaper article from: Knight Ridder/Tribune Business News July 31, 2003 700+ words
...Creditors of TPI Polene Plc have re...state bank that Prachai Leophairatana claimed...yesterday to negotiate TPI Polene's US$1.1...Last week, Mr Prachai proposed to the...buy back all of TPI Polene's debts for...
- Thailand Cement Maker TPI Polene Seeks Debt, Interest Write-Off.
- Newspaper article from: Bangkok Post (Bangkok, Thailand) April 27, 2004 700+ words
...been seeking to invest in TPI Polene, the third-ranked producer...reduction proposal. TPI Polene is in the process of buying...prompting plan administrator Prachai Leophairatana to negotiate...buyback and write-off. TPI Polene has submitted its due...
- TPI Polene preparing to raise B16bn.
- Newspaper article from: Bangkok Post (Bangkok, Thailand) July 4, 2006 700+ words
Jul. 4--TPI Polene Plc is preparing to raise...shares are to be sold to Prachai Leophairatana, the company...It's my business" Mr Prachai replied yesterday when asked...Industry, from which Mr Prachai has been ousted following...
- Thai Executive Says TPI Polene's Board Approved Share Deals.
- Newspaper article from: Knight Ridder/Tribune Business News December 20, 2003 700+ words
...senior executive vice-president of TPI Polene Plc, insists that share transactions...Orapin, the wife of TPIPL founder Prachai Leophairatana, said the company...Power, a wholly owned subsidiary of TPI Polene, in order to allow consolidation...
Source: HighBeam Research, Thai Petrochemical Head Fights Creditors' Bid to Oust Him.