BANGKOK, June 15 (TNA) – The Central Bankruptcy Court approved a rehabilitation plan for Thai Airways International (THAI) and thus five plan administrators can start the implementation.
The court laid down its ruling after receiving two objection letters from creditors, explanations from planners and the opinions of a receiver.
The approved plan was the version that the meeting of creditors had endorsed on May 19. Consequently, nominated plan administrators Piyasvasti Amranand, Pornchai Teerawej, Siri Jirapongpan, Kraisorn Baramee-auychai and Chansin Treenuchagron were authorized to manage the business of the airline and implement its rehabilitation plan.
Mr Chansin, acting THAI president, said the court allowed the administrators to implement the plan within five years but the deadline could be extended twice by one year each. The total implementation period of seven years was promising for the implementation, he said. (TNA)