Archive for August 2011 | Monthly archive page

1)         Section 95 of the Bankruptcy Act

In principle, if a bankruptcy court issues an absolute receivership order against a debtor, any creditor who wishes to claim for assets of the debtor is required to submit his claim against the debtor to an official receiver within two months following the date of publication of the absolute receivership order. If the creditor is not domiciled in Thailand, the official receiver may extend this period. This principle is not applicable to secured creditors[1][1] because Section 95 of the Bankruptcy Act states that the secured creditor has rights over the assets given to him by the debtor prior to a date of receivership. → Read more