Navigating the complexities of the Bankruptcy Act for sustainable business recovery amid economic challenges
Thailand’s economy in recent years has felt the impact of a seemingly endless list of challenges, such as the COVID-19 pandemic, global economic recession, repercussions from wars and armed conflicts, slumping exports, and recurring internal political turmoil. Many Thai companies simply went bankrupt during this time, but many others have gone through the process of business rehabilitation as laid out in Thailand’s Bankruptcy Act.
This article outlines Thailand’s business rehabilitation procedures and explains how creditors can collect debts from companies…
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