Page 15 - พระราชบัญญัติล้มละลาย ฉบับที่9 2559

Vol. 133 Part 46 Gor Government Gazette 24 May B.E. 2559

Part 3
Consideration of the Petition for Business Reorganization
And Approval of the Plan
Section 90/99 Upon the Court’s having issued an order for acceptance of the petition,
an enquiry must be conducted urgently and the Court shall publicize its acceptance of the petition
as well as the scheduled date and time of the enquiry in one widely distributed daily newspaper at least
fifteen days prior to the scheduled date of the enquiry. Also, copies of the petition and notification
of the scheduled date and time of the enquiry must be sent to the debtor, creditors, and the
Official Receiver. Then, the Partnerships and Companies Registrar or relevant Juristic Entities
Registrar must be notified thereof in order that the Registrar shall also record the Court order in
the registry. In this regard, notification shall be sent at least seven days prior to the enquiry date.
The debtor or creditor may submit an objection at least three days prior to the first
enquiry session.
Section 90/100 In the enquiry of the petition, the Court shall investigate to find out the
facts according to the provisions of Section 90/92 and Section 90/95 and the Plan must be in line
with the criteria so that the Court is able to give approval under Section 90/101. If the facts warrant
and there are reasonable grounds for business reorganization and the Plan is in line with the criteria,
including the fact that the petitioner submitted the petition in good faith, the Court shall issue an Order
for business reorganization and approval of the Plan, otherwise it shall dismiss the petition.
Where no one objects to the petition, if the Court deems it appropriate, it may cancel
the enquiry and may issue an Order for business reorganization and approval of the Plan.
Section 90/101 Approval of the Plan by the Court must be in line with the criteria as follows:
(1) The Plan has the complete items pursuant to Section 90/96;
(2) The Plan is approved by creditors of at least two thirds of the total amount of debts;
(3) A proposal for debt payment according to the Plan is in respective order of
ranking as provided by the law governing distribution of property in a bankruptcy
case, unless otherwise a disadvantaged creditor consents in writing to a proposal
for debt payment in different order of ranking;
(4) When implementation of the Plan is completed, creditors shall receive debt
payment in an amount of not less than the case where the Court adjudicates
that the debtor shall be bankrupt; and
(5) Creditors in the same group shall be treated equally, unless otherwise
a disadvantaged creditor consents in writing thereto.
Where the Plan does not have complete items as stated under Section 90/96, the
Court shall inquire the petitioner thereof. If the Court deems that a missing item in the Plan is not
essential matter in business reorganization of the debtor, it shall be deemed that the Plan has
complete items according to Section 90/96.
Section 90/102 Where the Court orders for dismissal of the petition, the Court shall
publicize that order in one widely distributed daily newspaper. Also, the Court shall urgently notify
the Official Receiver, Partnerships and Companies Registrar or relevant Juristic Entities Registrar
of the said order so that the Registrar shall also record the Court order in the registry.

คู่มือพระราชบัญญัติล้มละลาย 13 BANKRUPTCY ACT