The Crown Prince to use personal funds to settle dispute

Crown Prince to use personal funds in settling ThaiGerman dispute over jet The Crown Prince will use his personal funds to settle the dispute involving a German firm and the impounding of his personal jet in Germany, his Secretariat said in a statement issued on Monday.

The statement said the move was being made so that the dispute could end well and quickly, and because the Crown Prince did not wish his name to be involved any longer in the dispute as it tarnished his honour.

The statement was issued in response to the German courts' ruling on July 11, allowing Walter Bau AG to impound the prince's personal jet and the ruling on July 20, which said that the jet would be released if the Thai government posted 20 million Euros as a bank guarantee.

The Crown Prince decided to react to the court's ruling as well as local and international news concerning the matter.

The Prince respected the ruling and has confidence in the fairness of the justice system. He also has a good relationship with and has received a warm welcome from the government and people of Germany during his stays and work in Germany.

He decided to act even though he had no vested interests and is in no way involved in the dispute between the Thai government and Walter Bau AG.

"The Crown Prince was not responsible for the dispute but it has caused him great anxiety and has had impact on his activities and risks having a negative impact on his honour," read the statement.

The prince has committed to repay the debt of gratitude to the country as a Thai citizen and the Crown Prince, read the statement.

German insolvency officials seized a Boeing 737 used by the Crown Prince while it was parked at Munich Airport in southern Germany on July 12. The move was aimed at forcing the Thai government to repay a 30-million-Euro debt in a commercial dispute dating back more than two decades between Thailand and Walter Bau, a nowinsolvent German construction firm that was building a road link to Bangkok's Don Mueang airport.