One gauge of the level of business distress is the number of bankruptcy applications filed, which have risen sharply in 2021. Often seen as a last resort, this indicates that despite the continued support of the government and financial institutions, … Read More
Restructuring & Insolvency Specialists
Trusted solutions to build, preserve, and recover value.
Rehabilitation is not bankruptcy.
Rehabilitation is a court-approved process that provides you with time to renegotiate your obligations and make them more manageable. This may include being granted a moratorium on civil lawsuits, extending repayment or grace periods on existing debts, reducing the amounts owed to your creditors, or eliminating unwarranted future obligations.
Many otherwise profitable companies can find themselves needing short- and long-term relief as a result 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 ultimately reclaim their market-leading positions.
A key requirement of the Thai rehabilitation process is to partner with your creditors in a court-supervised process and work together to find a solution. In Thailand, a creditor, or a group of creditors, owed more than THB 2 million 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 sell off all you own at auction. Rehabilitation will also allow you time to negotiate and restructure debt, implement cost-saving measures, and emerge a financially healthier company.
At Silk Advisory, we want to remove the taboo around the bankruptcy process and help you explore all your legal options. If your company is struggling to meet its obligations and needs room to breathe, Silk Advisory can work with you. Our team of turnaround specialists have direct experience in advising companies of all sizes in Thailand, leading to many successful turnarounds.
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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
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