BANGKOK: Thailand’s bankruptcy court will hand down its decision regarding Thai Airways' request for restructuring on Sep 14, the airline said on Tuesday .
The court held two additional hearings on Aug 20 and Aug 25 when minor creditors opposed the carrier's restructuring request.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. Thai Airway’s executives and legal advisers previously said they were confident that court would approve its request due to agreement among major creditors.
Source: Law Daily Report (lawdailyreport.net)
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