Bt147-bn in disputed assets sold in 2018

national October 19, 2018 19:22

By The Nation

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The Legal Execution Department has handled about Bt147 billion worth of disputed assets that were seized after litigation in the 2018 fiscal year.

Director-general Ruenwadee Suwanmongkol said on Friday that the amount is beyond the department's target of Bt110 billion and the highest in eight years.

The agency's target for the 2019 fiscal year is Bt130 billion, she said in Bangkok.

The agency this year was involved in 27,421 successfully resolved disputes covering Bt8.422 billion in assets, she said.

Among the Bt147 billion in disputed assets, about Bt61 billion worth were sold at auctions, about Bt21 billion worth were sold under orders for a stay of execution, and about Bt64 billion worth were sold under orders for withdrawal of execution.

The latter two saw assets released for the debtors to sell to repay what they owe to either their creditor or the winning party in their dispute.

The assets most popular in auctions were land plots and buildings, empty land plots and condominium units, she said.

In the past five years, about 38 per cent of condominium units were left over from auctions but this fiscal year there was only 8 per cent of condominium units left over.

She said that low-income Thais holding state welfare cards (who earned less than Bt30,000-Bt100,000 per year) can borrow money to buy a house or an apartment room worth Bt300,000-Bt500,000 from the department as per the Ban Pracharath Sawadikan project.

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