bankruptcy of company in Europe - Thailand and Hong Kong

[Morse]

hi All,

i have a question i would like to have some opinions on.

Early 2010, i had to close my company in Belgium. We were in global forwarding and i had lost too many of my clients in a few months time. losses that gave me cash flow issues what was disastrous for my company. i had only outstanding towards the bank and one supplier.

I had one branch office in Bangkok and one branch office in Hong Kong.

i had reformed those companies to a corporation but late 2013 i had also no other option than to file for bankruptcy in Hong Kong and voluntary winding up in Thailand. In Hong Kong the outstanding bills were too high to voluntary close it. In Thailand i had no outstanding bills and i had contact an accountant to handle the procedure for me.

I was lucky to find a job in Singapore where i have been working for 2 years now. The company i am working for is in financial troubles and i have an accrued salary of 4 months.

I have now a contract at my desk that i can sign and i would be employed in Thailand for indefinite time.

My problems are that:

- i did not show up on the hearing of my bankruptcy in Belgium. I simply could no longer afford the lawyer and all communication towards me stopped. The procedures for bankruptcy are closed now since 6 months ago and i have no way of finding out the result unless i pay a lawyer to do so.

not showing up on a hearing may result in having an arrest or warrant behind my name. It is considered a criminal offence but it is not a rule. The judge can just fine a person for not showing up. Almost certain is that it would be mentioned on my record. Fine or not, the arrest or violation is always mentioned.

- the bankruptcy in hong kong is still ongoing

- the voluntary winding up procedure has been handled by an accountant who handled also our other affairs. However, he has never responded to me ever since i paid him the agreed payment of 47500 thb for the closure. so i am not sure if this has been done properly or not.

with these 3 issues hanging above my head, possible warrant in Belgium for not showing up on a hearing and negative record, ongoing bankruptcy in Hong Kong and maybe issues with the company closure ( not filing of statements and so on), would i be on a watchlist or blacklist ? i had left thailand 2 years ago with no issues.

Never had any issues with Thai police or government and was mostly on a FIFO base anyway.

I would like to accept this job as it would allow me to generate savings to start with clearing my affairs in Belgium to start.

I have not really intentions of going back to Europe as let's face it, it is not much better than Asia. And my family is also with me. It is too expensive for me to pay those flights at this moment.

I have contacted agencies that can screen my status on watch list and blacklist and police records, but i have still not agreed to any particular agency. Prices vary from 65000 to 2500 thb and that really does not give me confidence of receiving the correct information.

Should anyone have had similar experience, and with increased security checks and other actions at immigration, what would your advice be. A lawyer is at this stage not a solution as those cost some money for which i do not have the budget. And booking a ticket going from Singapore to Thailand just to find out that i cannot enter is also a waste of money.

Thanks

Damian

[CHRISTIANa9]

hi All,

i have a question i would like to have some opinions on.

Early 2010, i had to close my company in Belgium. We were in global forwarding and i had lost too many of my clients in a few months time. losses that gave me cash flow issues what was disastrous for my company. i had only outstanding towards the bank and one supplier.

I had one branch office in Bangkok and one branch office in Hong Kong.

i had reformed those companies to a corporation but late 2013 i had also no other option than to file for bankruptcy in Hong Kong and voluntary winding up in Thailand. In Hong Kong the outstanding bills were too high to voluntary close it. In Thailand i had no outstanding bills and i had contact an accountant to handle the procedure for me.

I was lucky to find a job in Singapore where i have been working for 2 years now. The company i am working for is in financial troubles and i have an accrued salary of 4 months.

I have now a contract at my desk that i can sign and i would be employed in Thailand for indefinite time.

My problems are that:

- i did not show up on the hearing of my bankruptcy in Belgium. I simply could no longer afford the lawyer and all communication towards me stopped. The procedures for bankruptcy are closed now since 6 months ago and i have no way of finding out the result unless i pay a lawyer to do so.

not showing up on a hearing may result in having an arrest or warrant behind my name. It is considered a criminal offence but it is not a rule. The judge can just fine a person for not showing up. Almost certain is that it would be mentioned on my record. Fine or not, the arrest or violation is always mentioned.

- the bankruptcy in hong kong is still ongoing

- the voluntary winding up procedure has been handled by an accountant who handled also our other affairs. However, he has never responded to me ever since i paid him the agreed payment of 47500 thb for the closure. so i am not sure if this has been done properly or not.

with these 3 issues hanging above my head, possible warrant in Belgium for not showing up on a hearing and negative record, ongoing bankruptcy in Hong Kong and maybe issues with the company closure ( not filing of statements and so on), would i be on a watchlist or blacklist ? i had left thailand 2 years ago with no issues.

Never had any issues with Thai police or government and was mostly on a FIFO base anyway.

I would like to accept this job as it would allow me to generate savings to start with clearing my affairs in Belgium to start.

I have not really intentions of going back to Europe as let's face it, it is not much better than Asia. And my family is also with me. It is too expensive for me to pay those flights at this moment.

I have contacted agencies that can screen my status on watch list and blacklist and police records, but i have still not agreed to any particular agency. Prices vary from 65000 to 2500 thb and that really does not give me confidence of receiving the correct information.

Should anyone have had similar experience, and with increased security checks and other actions at immigration, what would your advice be. A lawyer is at this stage not a solution as those cost some money for which i do not have the budget. And booking a ticket going from Singapore to Thailand just to find out that i cannot enter is also a waste of money.

Thanks

Damian

Cheap return tix cost around s$250 or b6750. Are you suggesting you want to pay the agency less than this? As you mention you lack confidence in the agencies, so flying yourself would to me the better deal for you.

[Morse]

it would indeed be a cheaper deal however, i have put this issue in my head and honestly am a little frightened if i would be jailed for anything. call my crazy but that's how i feel.

I would pay an agency i have in my mind 20k. as long as they can guarantee actual data. I have the Thai visa guys who offered me 2500 thb but they cannot show me prove. i would have to take their word for it. that doesn't work for me.

i was more wondering if there are people with similar issues of bankruptcy and what the effect this can have travelling abroad as a free person.

thanks

[BritTim]

Before entering Thailand, I would wish to know the status of the company wind up there. The bankruptcy proceedings in Hong Kong and Belgium are irrelevant. There will be no Interpol arrest warrants, and you are not going to be extradited over this kind of issue.

Just to be clear, I doubt very much you are blacklisted, and the consequences if you are not that serious if you try to enter. Once you are in the country, you have potentially bigger problems if there are unresolved legal circumstances that they can make you responsible for.

Edited December 22, 2015 by BritTim

[MobileContent]

I think BritTim pointed it out already.

I would like to add:

If your Thai company had no debts you can just fly in and you should be fine. Any Thai company needs Directors and if you know who your directors were you can just contact them. To wind up a company in Thailand it needs the signatures from both the directors and shareholders. An accountant can't close the company without the other parties signing or he holds a PoA.

The only issue is if taxes or suppliers have not been paid but they will still let you into the country.

Their is a Thai visa guy on this forum (a sponsor I think) and if he is the guy/gal that asked for 2500B go for it.

As for a potential warrant in Belgium, if you are a Belgian citizen you could just call your embassy or drop by and ask them if their is a local warrant against you or if it is recorded in Europol but I doubt it.

Edited December 22, 2015 by MobileContent

[SoFarAndNear]

I would not worry about bankruptcy in Belgium. In most cases you don't even get a EUarrest warrant for this. I dont know about Hong-Kong.

I heard that the "2500Baht" fee blacklist service check is very accurate .... no more comments...

[scotchonrocks]

You did not indicate if you were a director of the Thai company. If you were not, you have no worries. If you were and there were unsettled debts, you and your fellow directors could face issues if the company was wound up in bankrupcy proceedings. If it were voluntarily wound up, such would cease all legal actions pending and you are safe. Suggest you contact your co-directors.

[ardokano]

HK LTD?

If is and not have open case for londry money any problem. Not any Interpols flagged.

[scotchonrocks]

I think it is wrong to be talking about Interpol in the context of this matter. The OP's comments certainly don't suggest he was involved in a criminal matter and this is civil so long as there was no misappropriation, theft or criminal matters involved. Certainly in Thailand one must be aware of potential for police involvement of there is a reason to suggest that the civil matter extended to breaches of the criminal code, but there is nothing he has advised that this is the case so let's not confuse things here. It's sensationalising something that is an everyday corporate reality. It's not illegal to bankrupt a company provided you did so within the corporate code of conduct such as not trading while insolvent, etc. I stand by my earlier post of advice to the OP on this matter.

Sent from my iPhone using Tapatalk

[bwpage3]

It is amazing that someone would offer the OP a job at all.

However, I think one can be assured the new company is not aware of all the issues the op has had in the past.

That being said, what would happen if the OP took a new job in Thailand and his new employer found out about his past financial shortcomings?

They may send him packing and he would be right back to square one?