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Court clears way for entry of new investors.
Byline: Busrin Treerapongpichit
Nov. 3--The Central Bankruptcy Court has ruled that the plan administrators of Thai Petrochemical Industry can call an extraordinary shareholders' meeting when the company exits court rehabilitation.
TPI's plan administrators had sought the authority to call the shareholders' meeting to ensure that new strategic investors, who include PTT Plc, would gain control over the petrochemical firm.
The court yesterday also approved a request to extend TPI's rehabilitation process for six months to June 2006.
Both rulings are considered to be positive for creditors and the TPI planners and clears the way for the ...
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