Page 137 - ACC One Report 2567-En

ADVANCED CONNECTION CORPORATION PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIES NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2024
In the year 2018, the Central Bankruptcy Court ordered with a business rehabilitation plan. Set the company to receive a 58.73 percent of the amount of the amount that has the right to receive a payment of baht 98.37 million, which is required to pay the debt in the amount of 15 years as follows:
- Year 1 - 15, the amount of money that has the right to receive a total of baht 5.27 million of business rehabilitation plan
- The final payment is baht 93.10 million.
The debtor/plan preparer has filed an appeal against the judgment of the specialised court of appeal with the central bankruptcy court.
On July 13, 2021, the Central Bankruptcy Court arranged to hear the Supreme Court's order. The Supreme Court considered the petition request and the petitioner of the debtor/plan administrator and ordered that "Receiving the petition, waiting for the official receiver to make the petition for 15 days". Therefore, in this case, the Receiver must proceed to prepare the petition for submission to the Central Bankruptcy Court.
Later, the Office of Investigation found that the Receiver had filed an appeal against the Central Bankruptcy Court. The case is being considered by the Supreme Court's Bankruptcy Division. At present, the date for the judgment or order has not yet been announced.
9.1.2. Loans and accrued interest unrelated parties and companies
As at December 31, 2024, the subsidiaries have loan agreements with unrelated parties in amount of Baht 158.74 million, due on March 15, 2025 – January 23, 2026 at an interest rate of 10 – 15 percent per annum by mortgaged and land consignment sale with residences.
As at December 31, 2023, the subsidiaries have loan agreements with unrelated parties in amount of Baht 68.62 million, due in Febuary 3, 2024 – January 23, 2025 at an interest rate of 10 – 15 percent per annum by mortgaged land consignment sale with residences and condominiums.
Annual Report 2024 (Form 56-1 One Report) Advanced Connection Corporation Public Company Limited
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