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Article: Finance Ministry Appointed as Administrator for Thai Petrochemical Industry.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- June 14, 2003
CopyrightCOPYRIGHT 2003 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Bangkok Post, Thailand Knight Ridder/Tribune Business News
Jun. 14--Local and foreign creditors alike expressed disappointment at yesterday's precedent-setting ruling by the Central Bankruptcy Court appointing the Finance Ministry as the new plan administrator for Thai Petrochemical Industry.
Lawyers representing creditors said it was likely that an appeal to the Supreme Court would be made to overturn the judgment.
At the same time however, some 500 TPI employees reacted joyously to the decision, handed down by the bankruptcy court yesterday afternoon.
Finance Ministry officials said they would seek to balance interests of all ...