Viroj ruling overturned by court
Former Krung Thai Bank (KTB) president Viroj Nualkhair is likely to have his record amended following a Central Administrative Court judge's comment yesterday that barring him from holding executive posts in financial and listed companies violated his personal rights.
The comment suggested that any financial or listed company could hire him back on its board of directors.
In 2004, Viroj filed charges against the Bank of Thailand (BOT) and then-Governor MR Pridiyathorn Devakula, following a BOT order that banned financial and listed companies from hiring him as an executive. The order came after Viroj and other KTB executives were implicated in unscrupulous lending of Bt9.9 billion to a number of companies whose ability to repay was low. Prasak Siriphanich, a judge at the Central Administrative Court, announced yesterday the central bank's order violated Viroj's personal rights. However, he said the announcement had nothing to do with the court's ruling in this case, which is scheduled to be announced on November 29. Prasak also said the court would not rule on Viroj's claim that the BOT must pay him compensation of about Bt200 million. "KTB was the one who caused damage to him, not the central bank." Asked by reporters, Viroj said that over the past two years, the central bank's order had cost him income of Bt7 million a month. "I have been unemployed and reluctant to meet people. Still, I'm confident I will receive justice," said Viroj, adding that he would not appeal if the ruling on November 29 went against him. "At 59, I'm tired," he said. Saying he was not worried that Pridiyathorn had been promoted to deputy prime minister and finance minister, he commented that this government was unlike the previous one, because it was pursuing good governance.
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