Bankrupt debtor has fled Thailand, now what?

[ezzra]

Has anyone had an experience whereby a debtor declared bankrupt has fled the jurisdiction

of the order of bankruptcy, namely Thailand? the duration of the bankruptcy is 3 years, so if

said person stays out of Thailand for 3 years and come back to resume life as normal Scott

free debts now?

PM me if you have first hand experience or advice....

[Suradit69]

...said person stays out of Thailand for 3 years and come back to resume life as normal Scott [sic}free debts now?

Surely if a court approved a bankruptcy plan the terms of the agreement would spell that out. Why, if it were court approved, would the debtor "flee the country?" The fleeing sounds like he's trying to escape the terms of the bankruptcy. Wouldn't be surprised if the debtor had his passport lifted during the proceedings, especially if he's a foreigner.

An individual can't simply claim he's bankrupt and walk away. In Thailand it would most often be the creditors who force the issue in order to seize the debtors assets anyway .

[jasonsamui55]

I think the whole point of filing for bankruptcy is that the end result is that you resume life as normal, scot free of all debts, and the price "paid" is a diminished ability to obtain credit in the future.

[Searat7]

Cannot find much on personal bankruptcy here but would like to know more so that I could advise a Thai friend. In one place I read that the creditor has to initiate bankruptcy, not the debtor. Also read that a debtor's wages can be attached for years until debts are satisfied which is very unlike a western bankruptcy. Would like to know if the above is true.

[mrfaroukh]

I am not aware of the bankrupcy law in Thailand but in some countries like UAE (Dubai), you can not simply announce Bankrupcy and get away with it. There will be a court, passport will be confiscated or immigration will be informed the person will be arrested if try to leave the country, after the judgement prison time will be announced and then even after that if you can not pay up you will still stay back in jail until the money is paid back somehow.

Now if the person manage to run away. You can complain to both local police and Interpol police. If there is any mutual agreement between where the person is located now and Dubai that person can be arrested and send back to Dubai.

You should talk to a lawyer if there is any such policy in Thailand too.

[Farma]

Searat7 you might find some of the information you're after on this link to the Thailand Legal and Business Guide - Bankruptcy, Liquidation and Corporate Restructuring.

http://www.bia.co.th/029.html

[realenglish1]

The long and the short of it is this. If someone is in bankruptcy the chances of you getting any money are slim to non and I just think SLIM left town

[SteveB2]

He he he :-)

How very unlikely it is... to achieve a successful outcome for a defendant who has already fled the legal jurisdiction you want to sue them in... And has no assets you can lien.

You must now consider the sad fact that they were far cleverer than you to anticipate the end game, and to leave with their ass and assets completely intact... to set up again in a new country, with welcoming arms.

Done it myself several times – but only against deserved evil plaintiffs with shit 4 brains.

So sorry Na... live and learn that business partners, employees and wife's are internationally mobile when you make their life difficult.

[puukao]

If criminal, they the debt can't be discharged (I'm pretty certain); however, you would have to prove intent. I love it when they want to sign everything, pay 1,000,000% interest, do whatever....get the money.....and.......good-bye......thanks for playing

or you get 49%....and i guess voted out.......lol.......thanks for playing, again.

[fey]

Remember the system dont work right here and trying to do a bankruptcy is a fools game which would end up costing more in lawyers and legal fees then the amount owed in the best of outcomes.

Skippjng town was a wise move and theres no way you can collect the debt now.

[ozyjon]

I am not aware of the bankrupcy law in Thailand but in some countries like UAE (Dubai), you can not simply announce Bankrupcy and get away with it. There will be a court, passport will be confiscated or immigration will be informed the person will be arrested if try to leave the country, after the judgement prison time will be announced and then even after that if you can not pay up you will still stay back in jail until the money is paid back somehow.

Now if the person manage to run away. You can complain to both local police and Interpol police. If there is any mutual agreement between where the person is located now and Dubai that person can be arrested and send back to Dubai.

You should talk to a lawyer if there is any such policy in Thailand too.

If this was an (enforceable) law in Portugal every politician,

government employee, bank manager, forget it, 90% of all

Portuguese would be in jail, including the jailers.

[GOLDBUGGY]

No such thing as a Bankrupt Debtor. For a person or company to be Bankrupt, he first must declare Bankruptcy.

This is a legal process in which all assets are confiscated from the company and sold usually at public auction. The proceeds are then sold and all money paid to the creditors. Starting with the secured creditors first, then the unsecured creditors. This Bankruptcy Procedure also clears this debtor of further obligations, with the exception of court orders, like a fine or child support.

Now if you are talking about someone who owes money, and just fled the country to avoid paying this, then that is a totally different story. He is not cleared of this debt then. Depending on the amount you could force him into Bankruptcy, sue him, or take him to small claims court. This would require a lawyer in most cases, which is why the amount has to be big enough to justify this. Unless you understand the law and Thai, and decide to take this upon yourself.

In most cases, the trouble and expense to reclaim money such as this is not worth it.

[beerzy]

...said person stays out of Thailand for 3 years and come back to resume life as normal Scott [sic}free debts now?

Surely if a court approved a bankruptcy plan the terms of the agreement would spell that out. Why, if it were court approved, would the debtor "flee the country?" The fleeing sounds like he's trying to escape the terms of the bankruptcy. Wouldn't be surprised if the debtor had his passport lifted during the proceedings, especially if he's a foreigner.

An individual can't simply claim he's bankrupt and walk away. In Thailand it would most often be the creditors who force the issue in order to seize the debtors assets anyway .

Cant speak for Thailand but in Aussie a persons passport is seized by the court

[Briggsy]

Cannot find much on personal bankruptcy here but would like to know more so that I could advise a Thai friend. In one place I read that the creditor has to initiate bankruptcy, not the debtor. Also read that a debtor's wages can be attached for years until debts are satisfied which is very unlike a western bankruptcy. Would like to know if the above is true.

Farang who has no knowledge of Thai bankruptcy proceedings goes on to farang forum to ask farangs mostly on retirement extensions "how to deal with bankruptcy" so he can "advise Thai friend". This is about bankruptcy in Thailand I should add! Can you see the weaknesses in this strategy?

If you were a professional advisor anywhere in the world, you have already clearly breached the principle of professional competence. Best thing to do now is to stop trying to help your friend, say to her, "I don't know, it is beyond me, I do not have the knowledge," and suggest she contacts a qualified lawyer or accountant with the experience of dealing with insolvency or at the very least debt collection. It may well be the amount involved makes that not worthwhile. In that case, try the local police.

[williet98248]

Best advice ever. Beats me why people come on this forum to ask non professionals legal and medical questions when the obvious thing is to go to your nearest medical or legal professional for a correct answer.

Cannot find much on personal bankruptcy here but would like to know more so that I could advise a Thai friend. In one place I read that the creditor has to initiate bankruptcy, not the debtor. Also read that a debtor's wages can be attached for years until debts are satisfied which is very unlike a western bankruptcy. Would like to know if the above is true.

Farang who has no knowledge of Thai bankruptcy proceedings goes on to farang forum to ask farangs mostly on retirement extensions "how to deal with bankruptcy" so he can "advise Thai friend". This is about bankruptcy in Thailand I should add! Can you see the weaknesses in this strategy?

If you were a professional advisor anywhere in the world, you have already clearly breached the principle of professional competence. Best thing to do now is to stop trying to help your friend, say to her, "I don't know, it is beyond me, I do not have the knowledge," and suggest she contacts a qualified lawyer or accountant with the experience of dealing with insolvency or at the very least debt collection. It may well be the amount involved makes that not worthwhile. In that case, try the local police.

[ezzra]

Cut a long story short, the runaway is an x partner who was ordered to pay large some in resuscitation to the plaintiff

under a amicable agreement in from of a judge in a civil court which the defended agreed.

fair to say that are 2 criminal cases were also initiated for issuing for 4 bogus bad checks knowing

knowing full well that the will not be honored,,

while and when we have reached an agreements by arbitration in the civil court for the defended to pay

the well over 2 million baht debt in installment over 4 years Which he failed and paid only half,

( the amount has grown up to well over 3.5 millions baht now ) so the matter went to the bankruptcy court

where he was deemed TO BE insolvent,

One month was given by the court for until it was publishes in the court's gazette, last minuets futile negotiations that led to nowhere and now he's

in the wind, fee to go back to his sub continents home country and run the very same business we're trying to stop

him from doing and taking it over with impunity,

the question is, with the 2 criminal cases still pending against him, will those be still in effect in 3 years?

will the guy come back after 3 years with clean slate and free to resume life as if nothing happened?

isn't a very glaring huge loophole staring us in the face here?

[zyphodb]

Cannot find much on personal bankruptcy here but would like to know more so that I could advise a Thai friend. In one place I read that the creditor has to initiate bankruptcy, not the debtor. Also read that a debtor's wages can be attached for years until debts are satisfied which is very unlike a western bankruptcy. Would like to know if the above is true.

Farang who has no knowledge of Thai bankruptcy proceedings goes on to farang forum to ask farangs mostly on retirement extensions "how to deal with bankruptcy" so he can "advise Thai friend". This is about bankruptcy in Thailand I should add! Can you see the weaknesses in this strategy?

If you were a professional advisor anywhere in the world, you have already clearly breached the principle of professional competence. Best thing to do now is to stop trying to help your friend, say to her, "I don't know, it is beyond me, I do not have the knowledge," and suggest she contacts a qualified lawyer or accountant with the experience of dealing with insolvency or at the very least debt collection. It may well be the amount involved makes that not worthwhile. In that case, try the local police.

I would have thought that the last place to go would be your local police, & unless there are huge sums involved the second last place would be Lawyers...

[zyphodb]

Cut a long story short, the runaway is an x partner who was ordered to pay large some in resuscitation to the plaintiff

under a amicable agreement in from of a judge in a civil court which the defended agreed.

fair to say that are 2 criminal cases were also initiated for issuing for 4 bogus bad checks knowing

knowing full well that the will not be honored,,

while and when we have reached an agreements by arbitration in the civil court for the defended to pay

the well over 2 million baht debt in installment over 4 years Which he failed and paid only half,

( the amount has grown up to well over 3.5 millions baht now ) so the matter went to the bankruptcy court

where he was deemed TO BE insolvent,

One month was given by the court for until it was publishes in the court's gazette, last minuets futile negotiations that led to nowhere and now he's

in the wind, fee to go back to his sub continents home country and run the very same business we're trying to stop

him from doing and taking it over with impunity,

the question is, with the 2 criminal cases still pending against him, will those be still in effect in 3 years?

will the guy come back after 3 years with clean slate and free to resume life as if nothing happened?

isn't a very glaring huge loophole staring us in the face here?

Knowing practically anything here is trumped by brown envelopes the answer is unless you are prepared to pay a bigger brown envelope to whatever dept. could stop him leaving the country there is nothing that you will be able to do about it...

[Yoram]

zyphodb, on 15 Nov 2015 - 10:52, said:

ezzra, on 15 Nov 2015 - 09:17, said:

Cut a long story short, the runaway is an x partner who was ordered to pay large some in resuscitation to the plaintiff

under a amicable agreement in from of a judge in a civil court which the defended agreed.

fair to say that are 2 criminal cases were also initiated for issuing for 4 bogus bad checks knowing

knowing full well that the will not be honored,,

while and when we have reached an agreements by arbitration in the civil court for the defended to pay

the well over 2 million baht debt in installment over 4 years Which he failed and paid only half,

( the amount has grown up to well over 3.5 millions baht now ) so the matter went to the bankruptcy court

where he was deemed TO BE insolvent,

One month was given by the court for until it was publishes in the court's gazette, last minuets futile negotiations that led to nowhere and now he's

in the wind, fee to go back to his sub continents home country and run the very same business we're trying to stop

him from doing and taking it over with impunity,

the question is, with the 2 criminal cases still pending against him, will those be still in effect in 3 years?

will the guy come back after 3 years with clean slate and free to resume life as if nothing happened?

isn't a very glaring huge loophole staring us in the face here?

Knowing practically anything here is trumped by brown envelopes the answer is unless you are prepared to pay a bigger brown envelope to whatever dept. could stop him leaving the country there is nothing that you will be able to do about it...

Nothing to do with whom has the bigger envelop, he simply used the grace period the court has given

to both sides to try to reach an agreement and he just used this opportunity to flee,

however there are several legal ways that can still be followed, the fat lady hasn't sung the last song yet...

[fred Kubasa]

Now ?, now SOL !

[ezzra]

fred Kubasa, on 15 Nov 2015 - 13:25, said:

Now ?, now SOL !

What's SOL?

[Langsuan Man]

fred Kubasa, on 15 Nov 2015 - 13:25, said:

Now ?, now SOL !

What's SOL?

We don't want to get banned so look it up:

http://www.urbandictionary.com/define.php?term=SOL