Kudun and Partners has been officially appointed to represent a total of 87 savings co-operatives in their capacity as creditors of Thai Airways International Public Company Limited in Thailand’s largest-ever business rehabilitation proceeding to date, with debts estimated to be in excess of THB 352.49 billion (approximately USD 11.34 billion).
The co-operatives, consisting of state-owned enterprises, universities, corporations and hospitals, together represent the largest group of creditors of Thai Airways, holding an aggregate debt of THB 45.65 billion or approximately 65% of the airline’s debenture debts and 13% of the airline’s total debt. This appointment is in addition to Kudun and Partners’ appointment as legal counsel for several other notable creditors of Thai Airways, including AEC Securities PCL., Country Group Securities PCL., Srisawad Finance PCL. (BFIT), and Volvo Group (Thailand) Co., Ltd.
“This is a watershed appointment for Kudun and Partners and is a reflection of the outstanding reputation that the firm has built since its establishment in 2015,” said Kudun Sukhumananda, founding partner of the firm. “We are especially proud of our dispute resolution and litigation team, lead by partners Somboon Sangrungjang, Pariyapol Kamolsilp, and Niruch Winiyakul, each of whom is known for their vast experience and formidable skills in protecting the interests of their clients to achieve superior outcomes, not only in relation to business rehabilitation proceedings, but with respect to the full spectrum of dispute resolution and litigation matters.”
Somboon Sangrungjang, our partner and co-head of dispute resolution and litigation practice group added:
“To our clients – we would like to thank you for placing your trust in us. We will work tirelessly to ensure that your goals are always achieved.”
If you are a corporate creditor of Thai Airways who has not yet engaged legal counsel to represent you in this rehabilitation proceeding, we would encourage you to contact us to discuss joining the other groups of creditors who have chosen Kudun and Partners as their legal counsel in this historic case.