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Article: Six-month plan extension approved.
- Article from:
- Bangkok Post (Bangkok, Thailand)
- Article date:
- October 29, 2005
CopyrightCOPYRIGHT 2005 Bangkok Post. 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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Byline: Busrin Treerapongpichit
Oct. 29--Creditors yesterday approved a six-month extension for the US$2.7-billion debt rehabilitation period for Thai Petrochemical Industry Plc until the end of June 2006.
According to Chanin Sutikirtsana, the official receiver, creditors representing 95.6 percent of TPI's outstanding debt of 100.24 billion baht participated in the vote. Creditors representing 67.6 billion baht voted in favour of the extension, those representing 7.3 billion baht voted against it and the rest, representing 23 billion baht in debt, abstained.
The vote follows a petition filed by Bangkok Bank, one of the leading creditors, to the ...
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