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in this arbitration that were running off after 30 June 2014. Therefore, the Arbitral Tribunal finds that the
Claimant’s claims for outstanding debts owed by the Respondent under the four reinsurance treaties

stated in paragraph 32. are VALID and the Claimant’s claims for losses which gave not been paid and
are not due for payment are not admissible in arbitration. For the third issue, the Arbitral Tribunal finds
that the Respondent is liable for and has failed to pay its debts owed under the four reinsurance treaties

within the time limits prescribed therein. The last issue, the Arbitral Tribunal, in determining the amount
recoverable against the Respondent, takes into account the running off basis of the reinsurance treaties.

The total amount of claims payable by the Respondent is THB 124,304,650.59.

Award
The Arbitral Tribunal hereby awards the following:

1. The Claimant shall be entitled to the payment by the Respondent for a sum of THB
124,304,650.59 with interest thereon at the rate of 7.5% per annum from the date of the filing of its

statement of claim until full payment is actually made to the Claimant.
2. All costs of arbitration shall be in accordance with the attachment hereto which shall

from part of this Award.

Sources

Case No. (Black ) 63/2557
Relavant Laws : the Thai Civil and Commercial .Code

Arbitrator : Mr. Sophon Dejthevaporn
Mr. Sombat Anuntalabhochai

...Mr. Prawat Apinantanagit
Summarized by : Suganya Komaiphun