Thai Airways to nominate board members to execute rehab

Six members of THAI's board of directors will be nominated to execute the airline's debt rehabilitation plan and their names will be submitted to the Central Bankruptcy Court on Aug 17, according to THAI's acting president, Chansin Treenuchagron. The six members are ACM Chaiyapruk Didyasarin, chairman of the board; Chakkrit Parapuntakul, second vice chairman; Prapan Salirathavibhaga, an independent director; Boontuck Wungcharoen, an independent director; Piyasvasti Amranand, an independent director; and Mr Chansin himself, who drafted the rehab plan. Apart from the directors, the rehab team will also include EY Corporate Advisory Services Co. Chansin said the board members names' will be proposed to the court for consideration. If the court approves them, their appointment will be formally announced in the Royal Gazette. The next step in the rehab plan is the registration of creditors, which can either be done at the THAI head office or at the Legal Execution Department.<br/>