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Japanese Investors Question Thai Bankruptcy Law.
Byline: Nareerat Wiriyapong
Jun. 10--Japanese investors have started doubting the credibility of the Thai bankruptcy law, given the Central Bankruptcy Court's recent resolution on the Siam Strip Mill (SSM) case in favour of the company's owner, according to the Japanese embassy.
Masahiro Mikami, economic counsellor at the embassy in Bangkok, said the court's decision to include Siam Power Generation (Sipco) as one of SSM's creditors and to give it an equal claim to those of Japanese creditors was not fair to the latter, as the funds they had lent to SSM had already been spent.
Sipco's claim, meanwhile, was based on the damages claimed by the ...
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Source: HighBeam Research, Japanese Investors Question Thai Bankruptcy Law.