(Bloomberg) — The founder of Thailand’s biggest wind power firm can recover more than $800 million over allegations he faced political pressure and was forced to sell his shares at a massive discount after he fled to Europe, a London judge ruled.
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Holding companies of Nopporn Suppipat, who started Wind Energy Holding Co Ltd. in 2006, can recover the damages from the industrialist Nop Narongdej, ex-chairman of the KPN Group, as well as a handful of senior managers who betrayed Nopporn in exchange for bribes.
The senior managers at Wind Energy Holding took the “incentive” and conspired in an asset stripping scheme that helped Nop avoid payment obligations, Judge Neil Calver said in the High Court ruling published this week.
“The WEH managers did the very thing which Mr. Suppipat trusted…
