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Receiver Calls for Thai Petrochemical Industry Planners' Suspension.

Bangkok Post (Bangkok, Thailand)

| October 05, 2002 | COPYRIGHT 2002 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Oct. 5--The Official Receiver has asked the Central Bankruptcy Court to temporarily suspend the operations of the company overseeing the business rehabilitation of Thai Petrochemical Industry Plc (TPI).

The receiver's decision came one day after TPI's former chief executive, Prachai Leophairatana, filed a petition seeking the suspension of Effective Planners Ltd.

The petition claimed that all of the authorised executives and directors of the planning company had no authority to act on behalf of the plan administrator as they were under prosecution. It claimed that the problems surrounding the planners were eroding the confidence of TPI's employees.

...

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Source: HighBeam Research, Receiver Calls for Thai Petrochemical Industry Planners' Suspension.