Kudun and Partners , acting as legal counsel for the Thai Airways creditors’ committee, proudly acknowledges the Central Bankruptcy Court’s formal approval permitting Thai Airways International Public Company Limited (“THAI”) to exit its business rehabilitation plan, marking a major milestone in the carrier’s financial recovery.
The Court’s decision recognizes that THAI has fulfilled the key conditions under its rehabilitation plan.
Since the filing of its rehabilitation petition in 2020, THAI has steadily returned to profitability, reporting net operating profits since 2023. With the latest court ruling, THAI will revert to its normal governance framework and plans to relist on the Stock Exchange of Thailand by early August 2025.
Somboon Sangrungjang, Partner and Head of Dispute Resolution, Litigation and Arbitration Practice at Kudun and Partners, commented:
“We are honored to have guided the creditors’ committee from the very beginning, helping navigate the amendment and implementation of the rehabilitation plan. This case represents one of Thailand’s most complex and high-value debt restructuring. Today’s outcome reflects diligent legal strategy and cooperation among all stakeholders, and underscores our role in Thailand’s largest-ever corporate restructuring.”
Kudun and Partners has played a pivotal role in this landmark restructuring since mid-2021, serving as legal counsel to the official creditors’ committee, which comprised 87 savings cooperatives, the Ministry of Finance, state-owned and private financial institutions, and insurance groups with significant exposure to THAI’s debts. They have mandated Kudun and Partners to represent their interests from the outset of the rehabilitation process in 2020. The firm continues to support effective implementation of the post-rehab strategy and ongoing debt resolutions.
