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Thai Petrochemical Firm Seeks Return of 320 Million Baht in Fees.
Feb. 10--Thai Petrochemical Industry (TPI) has said that Effective Planners Ltd could be ordered to repay it 320 million baht in fees if the Central Bankruptcy Court rules in TPI's favour.
Prachai Leophairatana, TPI's chief executive, said the court was scheduled to rule on the case on April 21.
TPI's lawyers, International Legal Counsellor Ltd, said they had found documents indicating that TPI's debt restructuring planners had "unreasonably reimbursed" themselves from TPI for matters unrelated to debt payment.
The amount involved was 320 million baht, the lawyers said. Another set of papers relating to payments ...
- TPI Debt Saga Drags On.(Thai Petrochemical Industry)(Brief Article)
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- Magazine article from: Chemical Week Mollet, Andrew March 22, 2000 700+ words
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- Magazine article from: Chemical Week YOUNG, IAN January 17, 2001 700+ words
The former management of Thai Petrochemical Industry (TPI) says it plans to appeal a ruling...Utthasart, a lawyer working for TPI was preparing to lodge a petition...court's December 2000 approval of TPI's debt plan with the court...
Source: HighBeam Research, Thai Petrochemical Firm Seeks Return of 320 Million Baht in Fees.