Insolvency & Rehabilitation Lawyers in Thailand
The options narrow as the position worsens — which makes timing the most valuable advice available
The options narrow as the position worsens — which makes timing the most valuable advice available
Businesses in difficulty tend to seek advice late, when the choice has already reduced to one. Earlier, there are usually several: negotiated restructuring with key creditors, a formal rehabilitation that stays enforcement while a plan is implemented, or an orderly wind-down. We advise companies on which of those is realistic given their actual position, and creditors on protecting their claim — where filing on time and with the right documents makes the difference between recovering something and recovering nothing.
Service Scope
Rehabilitation and bankruptcy answer different questions
Rehabilitation is for a business that can still work if the debt is restructured: the debtor proposes a plan, and enforcement is stayed while the process runs so the business has room to recover and creditors are paid under the plan. Bankruptcy applies where liabilities are beyond recovery, and the assets are gathered and applied to creditors in order of priority. Choosing between them is a question about the business's viability, not about preference.
For creditors: the deadline is the whole game
Creditors have the right to file a claim and participate, but the process runs to fixed timetables and a claim filed late or without adequate supporting documents can simply not count. Recoveries in these processes are often partial, which makes the difference between filing properly and filing carelessly proportionally larger. Monitoring for a debtor entering a process is itself worth doing when exposure is significant.
Directors: the duties sharpen as the position worsens
As a company approaches insolvency, decisions that were ordinary commercial judgement start to be examined differently — particularly payments that prefer one creditor over others and transactions that move assets out. Directors are frequently unaware that the standard applied to their conduct changes before any formal process begins. Advice at that point is about what may and may not be done, and it is considerably more useful than advice afterwards.
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Frequently asked questions about Insolvency & Business Rehabilitation
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Further reading
Your Thai counterparty has stopped paying. Whether you have standing to petition, the claim-filing window and the evidence a foreign creditor must produce from abroad, where your claim sits in the queue, and what happens to security and set-off the moment proceedings begin.
11 min readCivil CasesReceived a court summons about a debt, had your salary garnished, or your house is about to be sold at auction — what can still be done at each stage, property that cannot be seized, requesting installment payments, and deadlines that are difficult to reverse once missed.
8 min readCivil Litigation GuideYour debtor won't pay — how do you actually get your money back? A step-by-step overview from the demand letter and civil suit to limitation periods, asset investigation, and enforcement (seizure and auction). By a Khon Kaen law firm with 40 years of experience.
12 min read