The Thailand Securities and Exchange Commission has issued guidance to holders of Stark Corporation Public Company Limited (STARK) bonds on submitting requests for debt repayment in the bankruptcy case between UOB (Thai) Public Company Limited and Mr. Vonnarat Tangkaravakoon. Creditors must file their claims with the official receiver at the Legal Execution Department within two months of the Government Gazette publication on 11 February 2025, setting a submission deadline of 11 April 2025. The update follows the Central Bankruptcy Court’s 18 December 2024 order placing Mr. Vonnarat Tangkaravakoon’s assets under total receivership. Bondholders can submit claims electronically through the Legal Execution Department’s online process or in hard copy at Legal Execution Department offices nationwide, including via the department’s proxy form. The SEC noted that procedures and eligible filers are determined under the Bankruptcy Act B.E. 2483 (1940), and that any repayment will depend on the evidence supporting the claim and further decisions by the official receiver or the Central Bankruptcy Court.
Thailand Securities & Exchange Commission 2025-02-28
Thailand Securities and Exchange Commission tells STARK bondholders to file bankruptcy repayment claims by 11 April 2025
The Thailand Securities and Exchange Commission has issued guidance for Stark Corporation bondholders on filing debt repayment claims in the bankruptcy case involving UOB (Thai) and Mr. Vonnarat Tangkaravakoon. Creditors must submit claims to the Legal Execution Department within two months of the Government Gazette publication on 11 February 2025. The process is governed by the Bankruptcy Act B.E. 2483 (1940), with repayment contingent on claim evidence and decisions by the official receiver or Central Bankruptcy Court.