KPM Securities Assigns Three Legal Teams to Defend TPOLY Bondholders' Rights After Court Dismisses Rehabilitation Petition

RegulationCorporate Action
โดย Share2Trade·TH·Read original
Summary · why it matters

The Central Bankruptcy Court has ordered the dismissal of the business rehabilitation petition of Thai Polycons Public Company Limited, or TPOLY, which was filed by the petitioning creditor TPC Power Holding Public Company Limited, or TPCH. The court found that there were no reasonable grounds for the company to enter the rehabilitation process under Section 90/6, paragraph one, of the Bankruptcy Act, according to TPOLY letter 080/2569 dated 10 September 2569, which was reported to the Stock Exchange of Thailand. Ms. Onanong Intharaprasit, Chief Executive Officer of KPM Securities Company Limited, in her capacity as lead underwriter and debenture holders' representative, said the company has maintained its stance against the rehabilitation petition from the outset in order to fully protect the rights of debenture holders, and that this court order is a positive signal that allows it to move forward with demands that TPOLY repay its debts to debenture holders without restriction. It has currently prepared as many as three legal teams and is ready to exercise legal rights to the fullest extent to safeguard the interests of debenture holders to the utmost, and it asks all relevant parties to act transparently and fairly toward every debenture holder. The court order dismissing the rehabilitation petition is beneficial to TPOLY debenture holders because it means TPOLY does not receive protection to suspend debt payments during the rehabilitation process. Debenture holders therefore retain the full right to demand repayment and to enforce their claims through legal proceedings. KPM Securities will closely monitor developments and will inform debenture holders when there is any significant progress.

Impact on stocks 2

Energy Transition & Power Demand▲ · 2 stocks
Thai Polycons Public Company Limited
TPOLY
▲ PositiveRegulationrelevance

Court dismissed the rehabilitation petition, so TPOLY avoids debt-payment suspension and faces full repayment demands from debenture holders.

Off-coverage companies 1

KPM Securities Company LimitedPrivate▲ Positive
Regulationrelevance

As debenture holders' representative, KPM Securities can now pursue TPOLY debt repayment without rehabilitation restrictions after the court dismissal.

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