Page 27 - พระราชบัญญัติล้มละลาย ฉบับที่9 2559

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

Upon having acknowledged the order of the Court under Paragraph One, the Plan
Executor shall deliver to the debtor or manager of the debtor its property, seals, account books,
and documents concerning the property and business of the debtor soonest.
The provisions of Section 90/106 shall apply mutatis mutandis.
Section 90/118 Where the Court issues an order for revocation of the Order for
business reorganization and approval of the Plan, the power and duty in managing the business
and property of the debtor shall return to the debtor or manager of the debtor, and shareholders
of the debtor shall return to assume their legal rights.
Section 90/119 The order for cancellation of business reorganization does not have an
impact on a change in the debt obligations of the debtor and creditors under the Plan, and the
effects shall be as follows:
(1) The debtor or manager of the debtor returns to assume power in managing
the business and property of the debtor;
(2) Shareholders of the debtor return to assume their legal rights;
(3) The remuneration of the Plan Executor and the debt incurred by the Plan Executor
in the interests of business reorganization of the debtor, except for tort liability, are
preferential debts over the total property of the debtor and shall be in the same
priority level as that of the first preferential right pursuant to Section 253 of the Civil
and Commercial Code.
Section 90/120 When the Court issues an order for revocation of the Order for business
reorganization and approval of the Plan or an order for cancellation of the business reorganization,
but the debtor or manager of the debtor has not yet assumed management of the business
and property of the debtor, the Plan Executor shall have power of management to maintain the
interests of the debtor insofar as circumstances merit, until the debtor or manager of the debtor
assumes management of the business and property of the debtor.
If the manager’s position of the debtor was vacant on the date the Court issued an
order for revocation of the Order for business reorganization and approval of the Plan or an order
for cancellation of the business reorganization and, thus, causing discontinuation of business
operation, the Official Receiver shall summon a meeting of shareholders of the debtor, or take
legal steps in order to appoint a manager of the debtor soonest.
In the event that a meeting must be convened to proceed as per Paragraph Two, the Official
Receiver shall be Chairman of the said meeting, and it shall be deemed the meeting of the debtor.
Section 90/121 Orders of the Court for revocation of the Order for business reorganization
and approval of the Plan and cancellation of the business reorganization do not have an impact
on any act which the Plan Executor has done prior to such Court orders.

Part 6
Offences
Section 90/122 Any person who files a petition, pursuant to Section 90/92, which is
fraudulent in essential substance and which may cause damage to the debtor, creditors, other
persons, or to the public in general, shall be liable to a fine not exceeding three hundred thousand
baht, or shall be imprisoned for a term not exceeding three years, or both.

คู่มือพระราชบัญญัติล้มละลาย 25 BANKRUPTCY ACT