Legal compliance and value enhancement are appropriate objectives for a director and board to focus on, but directors downplay their custodial role at their peril. In an age of increasing liability risk, directors and officers are reminded that it is … Read More
Restructuring & Insolvency Specialists
Trusted solutions to build, preserve, and recover value.
Build, Preserve and Recover Value in Your Company.
Rehabilitation is not bankruptcy.
Rehabilitation is court-approved protection to provide you with time to renegotiate your obligations and make them more manageable. Options include a moratorium on court cases, longer repayment periods or a grace period on existing debts, reduction on the amount owed to your creditors as well as the elimination of unwarranted future obligations.
A lot of otherwise profitable companies can find themselves needing short- and long-term relief because of unplanned and unforeseeable events and even just bad luck. Some of the largest companies in the world have sought creditor protection and used the rehabilitation process to come back stronger and retake market-leading positions.
A key requirement of the Thai rehabilitation scheme is to partner, in a court supervised process, with your creditors and to work together to emerge stronger. In Thailand, a creditor, or a group of creditors with over 2 million baht in debt can force a company into bankruptcy and liquidation, destroying an owner’s hard work in an instant. Rehabilitation can help to protect you from being forced to close without notice and quickly sell off all you own at auction. Rehabilitation will allow you time to negotiate and restructure debt, implement cost-saving measures, and emerge a stronger and better company.
At Silk Advisory we want to remove the taboo around the bankruptcy process and help you explore all of your legal options. If your company is struggling to meet its obligations and needs time to breathe, Silk Advisory can work with you. Our team of turnaround specialists have direct experience in advising some of the largest (and smallest) companies in Thailand leading to many successful turnarounds. Click here to read more about our success stories.
Insolvency & Liquidations
Thailand is currently facing challenges as a result of a global economy under pressure from the COVID-19 pandemic, leading numerous companies to struggle with insolvency. Some companies will be facing this stress in multiple jurisdictions with current travel restrictions hindering … Read More
Introduction As previously mentioned, Thai proceedings are highly complex with several procedures and conditions that need to be met in order to come to a successful conclusion. Thailand’s bankruptcy law is modeled after that of the United States, which provides … Read More