Mom Chailai told to pay
The Supreme Court has ordered Mom Chailai Yugala to pay Bt5.5 million back to a bank on behalf of her late husband, His Royal Highness Bhanubhandu Yugala.
Yesterday's ruling said that as the widow and executor of his estate, Chailai must honour the debt obligations left by the Prince. In 1996, Siam Commercial Bank filed a lawsuit against Chailai demanding she clear her late husband's debt - Bt47 million including accumulated interest at a rate of 15 per cent a year. The debt was incurred from a current account opened by the Prince. The Supreme Court, however, ruled the debt should stand at only Bt5.5 million including interest. According to the highest court, the interest should be applicable until only 1983 as this was the Prince's last contact with the bank. "It's not right to calculate the interest up to 1996," the Supreme Court said in its verdict. Chailai now owns a jewellery shop inside the posh Siam Paragon shopping complex in Bangkok.
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