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Thai Asset Management Corporation Likely to Reduce Foreclosure.
Byline: Cholada Ingsrisawang
Feb. 1--Court receivers say the Thai Asset Management Corporation (TAMC) should help reduce the number of foreclosure cases sharply once it begins operation.
Since the onset of the financial crisis in 1997, cases brought to court for foreclosure proceedings involved assets worth 100 billion baht annually, compared with less than one billion before the crisis, said Kraisorn Baramee-uaychai, director-general of the Legal Execution Department.
Besides, there was no sign of a slowdown, probably because the economy was still in the doldrums and the TAMC had not been fully functional.
"If the TAMC functions ...
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