Late News :Petition filed against BMTS
Thai Asset Management recently filed a petition with the Central Bankruptcy Court against Bangkok Mass Transit System's Bt77.7-billion debt-restructuring plan, while three creditors opposed the company's proposed purchase of 12 new Skytrain carriages.
A creditor source said the debt-restructuring plan of Keeree Kanjanapas, the administrative planner, called for creditors to be divided into two groups. Creditor Group I will have rights over debts equivalent to three to five carriages worth only Bt7.46 billion, with real debts of Bt31 billion incurred. The remaining debts are put into Creditor Group II, which has rights over non-secured debts that might need to be reduced by as much as Bt10 billion. The court has set December 27 for a hearing on the grouping of BTS creditors and December 6 for a hearing on the new cars.
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