Tuesday, May 21, 2024
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Airport protesters' assets in peril

The Central Bankruptcy Court has issued an absolute receivership order against eleven core members of the now-dissolved People Alliance for Democracy (PAD) in a bankruptcy lawsuit related to their protests that led to the shutting down of the capital's two main airports.

In the order published in the Royal Gazette, an appointed receiver is authorised to handle the assets of these 11 individuals under Section 22 of the Bankruptcy Act following the receivership order.

They are Maj Gen Chamlong Srimuang, Sondhi Limthongkul, Pibhop Dhongchai, Suriyasai Katasila, Somsak Kosaisuk, Chaiwat Sinsuwong, Amornthep Ratchayut, Samran Rodphet, Sirichai Maingam, Maleerat Kaewka, and Therdphum Jaidee.

The receivership order is the result of the bankruptcy lawsuit filed by the Airports of Thailand (AoT) which has been seeking compensation for damages caused by the PAD’s occupation of Don Mueang and Suvarnabhumi airports in 2008.

In March 2011, the Civil Court ordered 13 PAD figures to pay over 522 million baht in compensation to the AoT, with an annual interest rate of 7.5% as of December 2008.

In 2015, the Appeal Court upheld the lower court’s decision but the defendants failed to appeal the ruling by the deadline. They lodged a petition asking for an extension which was rejected.

According to the latest order, people who owe or are in possession of these individuals’ assets must report them to the receiver within one month of being notified by the receiver.

Their creditors, regardless of whether they are the plaintiff, must file a request for debt repayment with the receiver within two months of the court order being published in the Royal Gazette.

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