IN BRIEF
Court throws out Prachai's petition
The Central Bankruptcy Court yesterday threw out Prachai Leophairatana's petition to suspend Thai Petrochemical Industry Plc (TPI)'s debt-restructuring plan to sell a 30.8-per-cent stake in TPI Polene Plc to TPI's creditors.
Following the decision, TPI's plan administrator will start to sell 249 million TPI Polene shares to creditors to reduce debt worth US$250 million (Bt9.5 billion) following its debt plan, a source close to the deal said. Prachai filed a petition to suspend the plan last year. - The Nation.
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