Local officials in Koh Samui, Thailand are scrutinising the firm of the late French woman, Catherine DeLacote, who died on April 29th.

 

DeLacote, reportedly, left ฿100 million in her will to her devoted maid, nicknamed ‘Aunty Tim’. Amidst investigations into the legality of the structure of the firm and the potential use of unlawful proxy shareholders, the Ministry of the Interior may seize the assets of DeLacote's firm as per Thailand's rigorous business laws.

 

The ฿30 million villa, central to this saga, has been declared legally built. However, the company might have violated the law by employing proxy Thai shareholders.

 

As per the law, DeLacote's assets could be seized and processed according to Thailand's business regulations if this is proven true.

 

Initially, news about a windfall for ‘Aunty Tim’ led to a media frenzy. However, this was curtailed when lawyers connected with DeLacote's estate admonished the maid, Nutwalai Phuponta, and requested her not to engage with the press anymore.

 

She then paid homage to her late employer and discussed their close-knit bond. DeLacote also reportedly left her maid a will which involved her as the executor and her ex-husband as a beneficiary.

 

All the happenings have drawn attention to the company’s ownership, particularly its 51% Thai shareholders.

 

Thus, this might serve as a lesson for prospective foreign investors or expats. Establishing a firm in Thailand can prove lucrative, although it requires strict adherence to legal requirements and substantial investments.

 

The situation continues to unfold as local authorities delve into the matter, further complicated by contrasting estimates of the total estate value and potential concealed funds.

 

Maid "Aunty Tim". Picture YouTube video screenshot

 

-- 2024-05-09

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Poor person makes good for once and the Thai justice system tries to steal it from her. 

This can't be true as know it all's are always telling us buying a house via the company route with Thai shareholders owning 51% is legal. Until you die it seems then the greedy rats decide it's not and want to take it away from your estate.

Looks like "Aunty Tim" is going to end up with next to nowt , 

 

regards Worgeordie

"seized and processed according to Thailand's business regulations if this is proven true.".....this will happen for sure. 

There's no way this maid will get a cent!

It's a damn tough choice: buying property in Thailand and entrusting 51% ownership rights to some fictitious Thais or entrusting 100% to one’s Thai wife. Personally, my choice is clear: never put myself in such a dilemma.

4 minutes ago, Hellfire said:

It's a damn tough choice: buying property in Thailand and entrusting 51% ownership rights to some fictitious Thais or entrusting 100% to one’s Thai wife. Personally, my choice is clear: never put myself in such a dilemma.

Not really.

 

Under Thai law, if you divorce your wife you / she gets 50% each.

Under Thai law - In court. The justice system here follows the law... no whims of a Thai in the court room... there's three judges for that reason.

 

Under Thai law if you use a company, it's 49% ownership opposed to 51%.

48 minutes ago, webfact said:

the maid, Nutwalai Phuponta, and requested her not to engage with the press anymore

You should always stay under the radar. 

 

Any investment you can make in Thailand is if you can afford to lose it.

Aunty Tim just ruined her families' lives forever.  Enjoy your poverty.

corrupt thieves

 

her business was fine when she was alive

 

this place is rotten to the core

 

 

RIP

They didn't care about the legality of the property until they had a chance to get their dirty hands on it. Greedy swine.

49 minutes ago, Chris Daley said:

Aunty Tim just ruined her families' lives forever.  Enjoy your poverty.

How on earth did you come up with that ridiculous statement.

She is already 500,000 up plus her salary.

The argument is over the lady's assets.

55 minutes ago, Chris Daley said:

Aunty Tim just ruined her families' lives forever.  Enjoy your poverty.

Dolt post..........Get a life, chap.......

You can't make this s*** up.

The maid opened up her mouth and the upper class elite with all the money don't want some scum like her to get anything so they take it themselves.

Ain’t no way some random poor person is going to make good in Thailand if there is a chance for the authorities to snaffle it. There are plenty of influential people who think they are far more deserving

2 hours ago, webfact said:

 

Local officials in Koh Samui, Thailand are scrutinising the firm of the late French woman, Catherine DeLacote, who died on April 29th.

 

DeLacote, reportedly, left ฿100 million in her will to her devoted maid, nicknamed ‘Aunty Tim’. Amidst investigations into the legality of the structure of the firm and the potential use of unlawful proxy shareholders, the Ministry of the Interior may seize the assets of DeLacote's firm as per Thailand's rigorous business laws.

 

The ฿30 million villa, central to this saga, has been declared legally built. However, the company might have violated the law by employing proxy Thai shareholders.

 

As per the law, DeLacote's assets could be seized and processed according to Thailand's business regulations if this is proven true.

 

Initially, news about a windfall for ‘Aunty Tim’ led to a media frenzy. However, this was curtailed when lawyers connected with DeLacote's estate admonished the maid, Nutwalai Phuponta, and requested her not to engage with the press anymore.

 

She then paid homage to her late employer and discussed their close-knit bond. DeLacote also reportedly left her maid a will which involved her as the executor and her ex-husband as a beneficiary.

 

All the happenings have drawn attention to the company’s ownership, particularly its 51% Thai shareholders.

 

Thus, this might serve as a lesson for prospective foreign investors or expats. Establishing a firm in Thailand can prove lucrative, although it requires strict adherence to legal requirements and substantial investments.

 

The situation continues to unfold as local authorities delve into the matter, further complicated by contrasting estimates of the total estate value and potential concealed funds.

 

Maid "Aunty Tim". Picture YouTube video screenshot

 

-- 2024-05-09

Get our Daily Newsletter - Click HERE to subscribe

Who wants to have a share in addition or instead of the maid?🙏

Bureaucracy wins in Thailand, always, look at immigration.       

My Thai wife’s take is, regardless of the land and business assets, the will states the maid will get the cash and jewellery, she can forget anything else.. the bun fight is more with the 51% shareholders who stand to gain the land and buildings. 
The idea is to tie all the assets and anything related to the French lady and her business up in court for years, 5- 10 years easily, or “work” with the authorities to ensure a satisfactory (for some) agreement… Such is doing business in this country

1 hour ago, proton said:

This can't be true as know it all's are always telling us buying a house via the company route with Thai shareholders owning 51% is legal. Until you die it seems then the greedy rats decide it's not and want to take it away from your estate.

Course it’s true and everyone knew Aunty Tim will be lucky to get 100 THB … It was 100% a cert that this was going to happen ffs …. A good deed stolen by the #######s

2 hours ago, webfact said:

potential use of unlawful proxy shareholders,

One of the most archaic and discriminatory commercial laws often force the use of proxy shareholders. It serves no purpose. Singapore you can own 100% of your company as long as you have a S'porean Director. It is long overdue that TH revises the commercial regulations on foreign company ownership to attract investment and stimulate the economy. This gives no peace of mind to existing and potential foreign investors. Dubai is also welcoming investors with 100% ownership and residence.

2 hours ago, webfact said:

As per the law, DeLacote's assets could be seized and processed according to Thailand's business regulations if this is proven true.

The dirty government is trying to get it's grubby paws on this money and over-turn a dying ladies wish.

Pitiful.

2 hours ago, worgeordie said:

Looks like "Aunty Tim" is going to end up with next to nowt , 

 

regards Worgeordie

And the bottom feeder lawyers all.

Another act of self-sabotage by Thai authorities in the name of greed.

 

This is sending a clear message to potential foreign investors not to invest here, and if you do, make sure you dot all i's and cross all t's, and then liquidate and get all your funds out well ahead of the time you might depart this life..

The government will figure out some way to cheat the common citizen. This is not unique to Thailand. It happens everywhere. Those who have want to maintain control of those who have not. 

Did you really expect Thai law to be anything but this? Always a loop hole so they can get their snouts firmly where its been and will be for many years to come!

Cautionary take for all the foreigners who think they can get around a hard and fast rule that foreigners can't own land in Thailand. Without a proper (good) lawyer, and checking all the boxes, with one misstep, your entire estate gets through into limbo, or worse, lost/taken from you.

20 minutes ago, newbee2022 said:

Who wants to have a share in addition or instead of the maid?🙏

Look whose shown up...................

I have been here for many years. Long ago, I owned 2 condos in Thailand. Today I rent. Now, I would never invest one baht in this country. My philosophy is that I will acquire nothing  in Thailand that doesn't fit into a two suitcases or that I can't abandon without sheading  too many tears. Just for kicks, visit "Transparency.org" and pursue the world corruption index and make up your own mind.