Good News For Investors

[astral]

Bangkok Post 3rd June 2004

INTERIOR MINISTRY

Residency case ruling upheld

Investor sued after govt refused permit

A Swiss investor has had an Administrative Court order upheld in a case in which he sued the Interior Ministry for negligence after it denied him residentstatus in 2001.

On May 28, the court upheld an Administrative Court order, issued on Oct 29, 2001, calling for the interior minister to grant Jurg Bacmann, 44, a permit to live and work in Thailand.

Following the 1997 economic crisis, the Thai government tried to stimulate recovery through boosting foreign investment. Potential foreign investors were invited to apply for resident status with the Interior Ministry on condition that they deposit at least 10 million baht with the Government Housing Bank and invest in sectors preferred by the government, such as buying condominium units or government bonds.

Mr Bacmann was among the more than 800 foreign investors who appliedfor a resident permit. His application was turned down, along with those of about 80 other foreigners.

Mr Bacmann filed a claim of negligence against the Interior Ministry in 2001 when Purachai Piumsombun was interior minister.

The Administrative Court ruled in his favour on Oct 29, 2001, and ordered that Mr Purachai issue Mr Bacmann a resident permit within 15 days of the verdict. However, Mr Purachai allegedly disputed the ruling, leading Mr Bacmann to launch an appeal.Mr Bacmann's lawyer, Supat Skonchai, said he believed Pokin Polakul, the present interior minister, would adhere to the court order. Mr Supat said his client now runs a jewellery business in Thailand.