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Italian-Thai Development Says Restructuring Plan Depends on Court Ruling.
Byline: Charoen Kittikanya
Apr. 2--Italian-Thai Development yesterday vowed to complete all steps agreed on its debt restructuring plan by the end of June, if the Central Bankruptcy Court rules in favour of the company on Thursday.
The restructuring plan for debts totalling 12.85 billion baht includes a voluntary debt buyback at a discount, debt-to-equity conversion, and raising capital by issuing 173 million new shares. The plan would proceed if the court gave its approval, said Chatichai Chutima, the company's vice-president for finance.
The court yesterday announced its decision to make a ruling after hearing a long debate between the firm's ...
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Source: HighBeam Research, Italian-Thai Development Says Restructuring Plan Depends on Court...