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Thai Asset Management Corp Gives Ultimatum to Big Debtors.
Byline: Wichit Sirithaveeporn
Sep. 2--Thai Asset Management Corporation has set a deadline for 10 major corporate debtors to sign their debt restructuring agreements, according to Sathit Limpongpan, the TAMC's chairman.
The agency has asked the debtors to sign the agreements by the end of this month, otherwise, they can be ordered into receivership. The threat entails risk as this is the first time that the agency has imposed a deadline on firms which fail to co-operate in debt restructuring.
The agency is now the country's most powerful organisation responsible for managing non-performing loans which are transferred from local financial ...
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Source: HighBeam Research, Thai Asset Management Corp Gives Ultimatum to Big Debtors.