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Trade-Centre Tower Work in Bangkok, Thailand, Can Restart.
Oct. 2--Construction of the World Trade Centre's 63-storey office tower can go ahead after the Central Bankruptcy Court's dismissal of a case filed by Siam Commercial Bank against its debtor, World Trade Tower Bangkok Co.
On Sept 25, the court dismissed the bank's claim that the subsidiary of Wang Petchaboon Co owed the bank 900 million baht.
The court found that the debtor's assets exceeded its liabilities.
The second and third defendants, Viroon Tejapaibul and Viradej Tejapaibul, were acquitted.
The court said there was no evidence to support claims that their liabilities exceeded their assets.
A source at Siam Commercial Bank said that the bank would now try to negotiate a compromise to restructure World Trade Tower's debt. If the office tower was completed, the additional revenue gained could reduce the debt.
A restructuring plan proposed earlier by World Trade Tower Bangkok Co would involve the partial conversion of debt to equity and an additional loan extended by the bank, with the remaining debt to be repaid after 10 years, using revenue to be derived from the rent of office space in the new tower. Construction of the office tower ceased in 1997 at the 41st floor. To complete the work, an additional four billion baht is required, 1.5 billion baht of which would be a new loan.
- World Trade Tower Operator Says Bank Data Is Wrong.
- Newspaper article from: Knight Ridder/Tribune Business News November 9, 2001 700+ words
...Petchaboon Co, the operator of the World Trade Tower, says incorrect information...the bankruptcy charges against World Trade Tower over a 900-million-baht...help us to make payments." World Trade Tower Co owed 10 billion baht to Bangkok...
- Thai Trade-Tower Firm's Debt Restructuring Hits Snag.
- Newspaper article from: Knight Ridder/Tribune Business News December 29, 2001 700+ words
...29--Debt restructuring by World Trade Tower Bangkok Co with Siam Commercial...Property Bureau. However, part of World Trade Tower's debts to another lender...Asset Management Corp (TAMC). World Trade Tower owes 10 billion baht to the...
- Navy to use trade-tower steel in new warship. (Industry News Line).
- Magazine article from: Industrial Maintenance & Plant Operation February 1, 2003 700+ words
...The U.S. Navy said it plans to use steel from the World Trade Center wreckage in a warship it will begin constructing...800 people who died in the Sept. 11 attack on the World Trade Center in New York. According to the Associated Press...
- Move Saved Federal Home Loan Bank from World Trade Center Calamity.
- Newspaper article from: Knight Ridder/Tribune Business News November 25, 2001 700+ words
...the 103rd floor of One World Trade Center when terrorists...two hours to exit One World Trade and make his way to...and one option was 7 World Trade Center," he said...exciting to move into a Trade tower, but I was very relieved...
- INTERNET WORLD TRADE CENTER OPENS FOR BUSINESS; ONLINE PUBLISHER VOWS: 'WE'LL...
- Press release article from: PR Newswire December 11, 1995 700+ words
...virtual equivalent of a skyscraping world trade tower has opened for business on the...walled lobby, the Internet World Trade Center (iWTC) offers visitors...in those terms, the Internet World Trade Center is just seconds away from...
- INTERNET WORLD TRADE CENTRE OPENS UP FOR BUSINESS
- Newspaper article from: Internet Business News January 1, 1996 700+ words
...Business News 01-01-1996 The so-called Internet World Trade Centre has opened up for business at http://www...billed as the virtual equivalent of a skyscraping world trade tower with over 100 floors which offers visitors hundreds...
- City Desk: Towers Still.(World Trade Center Towers become icon)(Brief Article)
- Magazine article from: National Review Brookhiser, Richard September 30, 2002 700+ words
...the typewriter still includes the World Trade Towers. Of course the typewriter...the Trade Towers. Some of the Trade Tower postcards are simple unadorned...morning outlines the towers of the World Trade Center at the tip of the island...
- An industry mourns, and reflects on its future.(terrorist attacks on World...
- Magazine article from: Railway Age October 1, 2001 700+ words
...disaster. In New York at "Ground Zero," where the World Trade Center's 110-story twin towers once stood, there...magazine's editors of that day watched the first World Trade tower rise outside their windows (illustration, left...
