Page 181 - ACC One Report 2567-En

ADVANCED CONNECTION CORPORATION PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIES NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2021
36. LEGALDISPUTECASE
R T S (2003) company limited
As of December 31, 2024, RTS has significant legal disputes arising before the date on which the group of companies acquired shares in RTS, totaling two cases.
1) Administrative case in which RTS is the plaintiff against a private company for unjust contract termination regarding the termination of Sales Contract No. 122/2559 dated September 9, 2016, and the outstanding payment for the installation of equipment at Suvarnabhumi Airport. The lawsuit was filed in 2018 for a total claim of 60.52 million baht. The private company has filed a counterclaim requesting the court to order RTS to pay a penalty of 15% on the advance payment and the cost of dismantling the equipment, along with default interest, totaling 31.25 million baht, plus interest at a rate of 7.50% per annum on the principal amount from the date of the counterclaim until full payment is made. Currently, the case is pending a verdict from the Administrative Court.
2) Civil case between a leasing company (Plaintiff) and RTS (Defendant No. 1) date of lawsuit filing, December 16, 2014, This case involves a hire – purchase, guarantee, and mortgage dispute, including contract termination, debt repayment, and asset return. The plaintiff filed a lawsuit against RTS (Defendant No. 1), as the contracting party in the hire – purchase agreement, along with six other defendants. The case details state that all seven defendants entered into leasing agreements with the plaintiff but failed to make the required rental payments upon maturity. As a result, the plaintiff has petitioned the court to order all seven defendants to pay damages totaling 537.85 million baht, along with interest at a rate of 19.5% per annum, accruing from the day following the filing date until the debt is fully settled. Additionally, the plaintiff requests the court to order all seven defendants to return the leased assets to the plaintiff.
On December 28, 2016, the First instance Court ruled that the seven defendants jointly return the equipment used in the fiber optic cable network project, along with related accessories, in good and usable condition. If they cannot return the equipment, they are to pay the value of the equipment, which amounts to 400.09 million baht, along with outstanding hire – purchase payments, depreciation value, and appraisal costs totaling 5.16 million baht, plus interest at a rate of 7.5% per annum, accruing from November 22, 2014, until full payment. On November 21, 2017, the Court of Appeal amended the judgment, ordering the seven defendants to pay damages, depreciation costs, and appraisal fees totaling 28.16 million baht, plus interest at a rate of 7.5% per annum, accruing from November 22, 2014, until full payment is made to the plaintiff. On October 9, 2019, the Supreme Court upheld the ruling of the Court of Appeal. Subsequently, RTS has partially settled the debt, and as of December 31, 2024, the outstanding debt amounts to 209 million baht. RTS has agreed to sell this debt to another company and is currently in the process of negotiating terms related to the agreement (Note 19).
Annual Report 2024 (Form 56-1 One Report)83 Advanced Connection Corporation Public Company Limited
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