Thai court to decide on Thai Airways restructuring request in Sept.

Thailand’s bankruptcy court on Tuesday said it will hand down its decision on Thai Airways International’s request for restructuring on Sept. 14. The court held two additional hearings on Aug. 20 and Aug. 25 when minor creditors opposed the carrier’s restructuring request. “The court will allow those who oppose the plan to submit their petitions within seven days from today,” the court said. Thai Airways submitted its petition for bankruptcy protection in May and received a stay on its debt. “On the whole today’s hearing went well and the prospects are good,” Thai Airways’ acting president, Chansin Treenuchagron, said in a statement. In September, the court is expected to approve or reject the airline’s request and appoint a committee that will oversee the restructuring plan.<br/>