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Thai Asset Management Corp Says Borrowers Must Share Burden.

Bangkok Post (Bangkok, Thailand)

| April 05, 2002 | 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

Byline: Wichit Sirithaveeporn

Apr. 5--Any reductions, or haircuts, on outstanding debt by the Thai Asset Management Corp must also come with similar reductions in capital by borrowers, according to Sathit Limpongpan.

Mr Sathit, the TAMC's executive chairman, said reducing capital for borrowers in amounts similar to loan haircuts was aimed at ensuring fairness for borrowers who were servicing their debt normally.

Several industry groups have raised concerns about whether firms whose debt was held within the TAMC would enjoy an unfair advantage over competitors due to the restructuring process.

Giving a company a large reduction on its debt …

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Source: HighBeam Research, Thai Asset Management Corp Says Borrowers Must Share Burden.

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