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Thai Company Tale

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More than 10 years ago legal adviser S set up a company with 60% Thai and 40% foreign shareholding.

The company paid for some land which S split into several chanots using the company name for one chanot and individual Thai names for each of the other chanots.

S claimed that this was 'normal' and safeguarded by each of the Thai chanot names having given a signed copy of their ID and a signed PoA.

Now the company wants to sell the several remaining chanots but S had not kept the name IDs current and those names either refuse or ignore requests for them to provide same.

So the company is taking those names to court.

My point here is that anyone with an interest in a company where having IDs current is essential to its business better keep on top of them.

And yes, one may reasonably ask why anyone would use this setup.

Well it was used based on the advice of legal adviser S.

Sue the lawyer too, for being incompetent and conspiring to defraud the company.

Quite common for the lawyers staff or staffs uncle/cousin etc to be used, and yes of course years down the line cant be found etc.

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Sue the lawyer too, for being incompetent and conspiring to defraud the company.

Yes, he will get dragged into it somehow.

I would think it a bit difficult to prove conspiring to defraud though.

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Quite common for the lawyers staff or staffs uncle/cousin etc to be used, and yes of course years down the line cant be found etc.

Yes, that is exactly how it is. We did manage to track them down via ID numbers and parents addresses though.

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