Author
Prof Vicha Mahakun
Organisation/Institution
Country
THAILAND
Panel
Bankruptcy
Title
Enhancing Thailand's Business Reorganisation Regime
Abstract
Under Bankrupcy Act(1940),Thailand has amended in 1998 the provision of the business reorganisation as the important part of the new business principle that companies should be rehabiliteted if at all possible and with and enterprise or the large company which is the life blood of a community by the insolvency's communitarian theory at the present. The new provision at that time had drafted along with Singapore's Judicial Management,UK's Administration and U.S.A's Reorganisation but had developed into the culture and legitimize of Thailand. We may call Thailand is the mix system between the concept of the court supervision and the debt restrucuring . However,now Thaiand is in the new world and new era that driven by the digital economy context and evaluate digital competitiveness under the multiple values approach especcially the corperate governance.We must reform Thai Bnkrupcy law to be consistent with the rule of law for the balancing between the benefit of the debtors and the creditors without fraudulant and deceptive in the business world anymore.
Biography
Professor Vicha Mahakun was the former President of the Juvinile and Family Division of the Supreme Court of Thailand.After he retired from the Court, he became the National Anti-Corruption Commissioner for a nine year term.He has established the Anti-Corruption Foundation, Now he is Dean of Faculty of Law and the President of Thailand Anti-Corruption Academy at Rangsit University.He has been appointed to be Professor of Law and has taught in Bankrupcy Law at Chulalongkorn University since 2003.
