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Bankruptcy in Thailand

泰國破產介紹

One day when you and your company can’t pay some or all of the debts to creditors, the legal action you may consider is bankruptcy. In Thailand, bankruptcy is regulated under Bankruptcy Act BE 2483 (1940) and it has been amended several times. In 1990, Central Bankruptcy Court (first instance court) was established under The Act for the Establishment of and Procedure for Bankruptcy Court B. E. 2542 (1999). All bankruptcy cases are judged by Central Bankruptcy Court, any party who is unsatisfied by decision made from Central Bankruptcy Court can file appeal to Regional Bankruptcy Court and Supreme Court.

當有天您及您的公司無力償還全部或是部分的債務,可能會考慮採取的途徑之一就是申請破產。有關泰國破產規定請參閱佛曆2483年(西元1940年)《泰國破產法》,也曾修過幾次。於1990年泰國政府頒發了佛曆2542年(西元1999年)《破產法院成立及程序法》,所有有關破產的案件都由中央破產法院裁定,任一方如對中央破產法院的裁定不服,可向地區破產法院及最高法院上訴。

 

According to section 7 of Bankruptcy Act, “An insolvent debtor may be adjudged bankrupt if such debtor has been domiciled within the Kingdom or has carried out business within the Kingdom, whether personally or through representation, at the time of the bankruptcy petition against the debtor or within the period of one year prior thereto. ” Bankruptcy proceeding can only begin when a creditor files a suit against an insolvent debtor who owes more than THB 1 million to individuals or THB 2 million to juristic people. When the petition is filed, the creditor(s) have/has to prove that debtor is insolvent.

依據《泰國破產法》第7條規定,如債務人在被申請破產時、或是在這一年內居住在國內或是在國內做生意,可被宣布破產。破產程序只能由債權人提出聲請,當自然人的債務超過1百萬泰銖、法人的債務超過2百萬泰銖;提交聲請時,債權人必須證明債務人已破產。

 

If creditor(s) is a foreigner living outside of Thailand, he/she may apply for repayment in bankruptcy action.

如債權人為住在國外的外國人,可在訴訟過程中聲請還款。

(1). Must prove that the creditor(s) in Thailand is/are similarly entitled to apply for payment of debt in a bankruptcy action under the law and in the Court of his country; and

必須證明泰國的債權人同樣有權根據國家法律和法院在破產訴訟中要求償債;及

(2). Report amount of assets or distribution he/she has received or is entitled to receive from the same debtor’s assets located outside Thailand, if any. If so, he/she must agree to deliver the assets in order to be added to the debtor’s assets in Thailand.

通報已收到的資產或分配額、或是有權收到同一債務人在國外的資產(如有的話)。這樣的話,債務人須同意交付此財產以便增加到債務人的資產清單上。

 

Following is also few differences between personal bankruptcy and corporate insolvency.

以下為個人破產及法人破產的幾處不同處

  •  Personal Bankruptcy 個人破產

Section 81/1 of the Act stated that “a natural person adjudged bankrupt shall forthwith be discharged from bankruptcy upon the lapse of the three-year period as from the date of the adjudication of bankruptcy”

In addition, if the debtor is a government official when the court declares him/her insolvency, that person has to quit.

81/1條規定,當破產裁定日起三年期限屆滿,被判定破產的自然人應立即解除破產。

此外,如債務人被法院宣布破產之時為政府官員, 須強制辭職。

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  • Corporate Insolvency 法人破產

The liquidator of the entity can also submit a petition to the Court requesting that the entity be declared bankrupt provided that its assets are insufficient to cover the debts, even when the investment contributions and its shares are fully paid up.

債務人的清算人亦可向法院提出請願,即使公司的投資及股本已全數付清,仍不足以還債,主動聲請破產。


IBC International Business Consultancy is a law firm located in Bangkok, Thailand with experienced lawyers, accountants, and financial advisers. We provide services including investment, tax and legal advice in Thailand.

IBC泰國法律金融會計事務所 (International Business Consultancy) 為一間位於曼谷的泰國律師/會計師事務所,由經驗豐富的律師、會計師、及財務顧問組成,可提供泰國投資、泰國稅收及泰國法律諮詢等服務。

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