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ฉบับพิเศษ ประจำ�ปี 2564

Role of the Bankruptcy Court to Solve the Financial

Distress Problem of Thai Aviation Industry Due to

the Outbreak of the Communicable Disease

Coronavirus 2019 (COVID-19) Pandemic Situation

Justice Narong Klunwarin

Chief Justice of the Central Bankruptcy Court
Lalida Chulariksha

Judge of the Central Bankruptcy Court

Abstract

The Central Bankruptcy Court is a specialized court of first instance. The court
composes of judges who are specialized in bankruptcy and business reorganization.

The Central Bankruptcy Court plays an important role in solving problems of airlines
business through bankruptcy or business reorganization process. The court uses judicial
considerations for the benefits of creditors as well as for the economic system as a

whole. In issuing a business reorganization order, the Central Bankruptcy Court also
assists debtors to continue their operations, benefiting the companies, their employees,
and their partners.

In considering the reorganization plan, the court must weigh on the positions of
majority and minority creditors along with the position of debtors. The court examines

whether the reorganization plan conflicts with any current laws, whether the plan is fair
to both majority and minority creditors, whether the plan is made in good faith.

Additionally, the Central Bankruptcy Court plays a role in interpreting the laws fairly
and in creating a standard for the society.

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