THAI creditors told to file requests for repayment

THAI has asked its creditors to file their requests for debt repayments with the Department of Legal Execution after the Central Bankruptcy Court on Monday accepted its request for debt restructuring. THAI acting president Chansin Treenuchagron said creditors must submit their requests within a month of the order for the airline's rehabilitation being published in the Royal Gazette. "All the creditors except customers can file their requests with the Department of Legal Execution. We've put in place measures to take care of the customers, so they do not need to worry," he said. According to the airline, customers are allowed to keep unused tickets for use after its rehabilitation or with its subsidiary Thai Smile Airways which is still operating. They can also trade their tickets for travel vouchers that will be valid until Dec 31, 2021. The court's decision came after three rounds of hearings were held on Aug 17, 20 and 25. Chansin said the rehab plan is expected to be submitted to the court by the end of the year and the Department of Legal Execution will hold a meeting with the airline's creditors to examine the plan. He said the court is likely to rule on the plan and the appointment of administrators early next year but declined to give any details saying it must be approved by the court.<br/>