Bangkok Legal Service

With Mr. Somsak Pen as guarantor and obligated to pay debts from the Nakhon Thai Bank (Public Company Limited) and loans due on October 15, 2009. Subsequently, on December 1, 2011, Mr. Somchai Kuksal Sangpittak was declared bankrupt due to being insolvent and Mr. Somchai had declared bankruptcy on December 15, 2011, at which time the creditors’ meeting passed a special resolution accepting the debt of Mr. Somchai, and the court ordered the approval of the debt. The facts revealed that on January 5, 2012, Mr. Somsak was ordered by the court to declare his assets bankrupt due to insolvency, Nakhon Thai Bank, as a creditor of Mr. Somchai, upheld the request to pay the debt in the case of Mr. Somsak, Mr. Somsak was guarantor of the debt to Mr. Somchai on January 15, 2012, the bankruptcy officer rejected the request to pay the debt of Nakhon Thai Bank (Public Company Limited), stating that Mr. Somchai had filed for debt reconciliation before bankruptcy, and the court released Mr. Somsak, guarantor, from his liability, as the debt of Mr. Somchai had not yet been defaulted, and the guarantee debt of Mr. Somsak was a debt that arose before the date of the declaration of bankruptcy, although not yet due for payment at that time, the request to pay the debt according to the guarantee contract still stood. Nakhon Thai Bank (Public Company Limited) from the date of the declaration of bankruptcy, pursuant to Bankruptcy Act B.E. 2483 Section 27 and 9, filed a request to pay the debt within two months from the date of the declaration of bankruptcy. The bankruptcy officer must accept the request to pay the debt of Nakhon Thai Bank (Public Company Limited).

Mr. Daeng entered into a contract to purchase a building with a company and used it as an office.