Olympic gold medal hero Somrak declared bankrupt

[rooster59]

Olympic gold medal hero Somrak declared bankrupt

By The Nation

 

Somrak Khamsing, the first Thai athlete to win a gold medal at the Olympics Games, has been declared bankruptcy.

 

An order of the Legal Execution Department was published in the Royal Gazette on Friday declaring Somrak and his wife, Soawanee Khamsing, bankrupt.

 

The order stated that the two were declared bankrupt by the central bankruptcy court on August 9 as requested by the Mahanakhon Asset Management Co Ltd.

 

The court ordered the couple’s assets to be foreclosed and put under the care of an official of the Legal Execution Department.

 

Any debtor that seeks repayment from the couple must inform the Legal Execution Department of their intention within two months after the order was published in the Royal Gazette.

 

Somrak, who was born in Khon Kaen, is a Thai Muay Thai kickboxer. 

 

He won a gold medal for boxing at the 1996 Summer Olympics in the men's featherweight category, and also competed at the 2000 and 2004 Summer Olympics without winning any medals. He placed second at the 1st AIBA Asian 2004 Olympic Qualifying Tournament in Guangzhou, China. During the 1998 Asian Games in Bangkok, he lit the torch during the Games' opening ceremony.

 

Source: http://www.nationmultimedia.com/detail/breakingnews/30355008

 

 

-- © Copyright The Nation 2018-09-22

[SABloke]

Are all bankruptcies printed in the Royal Gazette? It must be quite a thick paper then. Also, where does one buy/get one - I constantly see news about things being published in the Royal Gazette, but in 10 years have never seen a peraon reading it.

[Searat7]

But in Thailand you cannot declare personal bankruptcy unless you have 1 million baht or more in debt. More often it is the financial institution forcing the debtor into bankruptcy......they can attach your paycheck forever if you have a good job.

[OneMoreFarang]

It seems lots of people want to be celebrities.

But what happens if people become famous, sometimes within days?

It seems many are not prepared for this. Maybe they make in a short time a huge amount of money - at least they think at that time it's a huge amount. And somehow they think it can only get better.

But often it does not get better, and the huge amount of money wasn't really that huge.

 

I think for many of us it's better that we will never be famous or win in the lottery.

 

[khunPer]

5 hours ago, SABloke said:

Are all bankruptcies printed in the Royal Gazette? It must be quite a thick paper then. Also, where does one buy/get one - I constantly see news about things being published in the Royal Gazette, but in 10 years have never seen a peraon reading it.

Quote

Royal Thai Government Gazette Website

Website of the Royal Thai Government Gazette. Thailand's public journal. Law and regulatory notifications are officially published by the Cabinet and the Royal Gazette Publishing House on the website, and it is only available in Thai.

http://www.ratchakitcha.soc.go.th

Source: Thomson Reuters.

Read More at Wikipedia "Royal Thai Government Gazette".

[tifino]

Doesn't take long before the parasites latch on... 

Like getting an Agent... -  and it is the beginnng of the end

[Spidey]

1 hour ago, OneMoreFarang said:

It seems lots of people want to be celebrities.

But what happens if people become famous, sometimes within days?

It seems many are not prepared for this. Maybe they make in a short time a huge amount of money - at least they think at that time it's a huge amount. And somehow they think it can only get better.

But often it does not get better, and the huge amount of money wasn't really that huge.

 

I think for many of us it's better that we will never be famous or win in the lottery.

 

Amateur boxers don't make money.

[Jeremy50]

His claim to fame seems tenuous at best, I can't really see the relevancy of publishing his financial problems. Slow news day I guess.

[tifino]

1 hour ago, Jeremy50 said:

His claim to fame seems tenuous at best, I can't really see the relevancy of publishing his financial problems. Slow news day I guess.

 

published as a warning off - to other potential candidates maybe?

Edited September 22, 2018 by tifino

[bannork]

1 hour ago, Jeremy50 said:

His claim to fame seems tenuous at best, I can't really see the relevancy of publishing his financial problems. Slow news day I guess.

Somrak was a hero in 1996. The first Olympic gold medalist from Thailand, he was showered with gifts and money when he came back from the USA. Every Thai knew his name.

There was a parade down Ratchadamnern road, he was invited to every talk show going on TV.

Middle class Bangkokians sometimes looked down on him for his Issan accent- 'he can't speak Thai clearly,' but he received about 22 million baht in prize money and gifts from companies at the time. Sponsorships and advertising soon followed.

Folks said it went to his head. He was boastful, he started up ventures with 'friends' but he knew nothing  about running a business. Apparently he was a reckless gambler on football too, losing a bundle. Finally he had a restaurant  down Sukhumvit , selling the popular Korean dishes, moo kata.

As a guest on game shows, and as a commentator on boxing bouts, he has maintained a public profile in recent years.

Iit's a shame to see him declared bankrupt. For a poor upcountry boy, all his dreams had come true. He could have been a great role model for kids striving to beat the odds regarding poverty and a poor education . But that would have been too much responsibility thrust on him.

He did well, beyond anyone's dreams. Then he lost it all. bor ben yang ( never mind) as Issan people say.