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Suntus Kirdsinsap is a senior counsel in the litigation and
arbitration practice group. He has extensive expertise, particularly in relation to banking,
finance, debt restructuring, bankruptcy, litigation and arbitration and has been the team leader for
many of Thailand’s major restructurings. Suntus also represents clients in the enforcement of CIETAC
and UNCITRAL arbitration awards in Thailand. With over 30 years’ experience as
counsel for clients and banking and financial institutions in Thailand, including three years as
vice president of the legal department of one of Thailand’s major finance and securities companies,
he is a regular contributor to publications on restructuring and insolvency in Thailand. Recent Experience Representation of Thai AirAsia X, the low fare long haul carrier, through its successful rehabilitation process. In August 2023, the Central Bankruptcy Court issued an order for approval of the USD 1.7 billion (approximately THB 62 billion) business rehabilitation plan to revamp the company’s administration process and restructure its debts, delivering greater efficiencies and a solid platform for future growth. Representation of
Bridge View Company Limited, the company operating the Montien Riverside Hotel, in
its THB 3 billion (USD 95 million) business rehabilitation. Weerawong C&P advised and
represented Bridge View on its negotiation with major creditors, terms and conditions of
repayment of debt under the rehabilitation plan and court proceedings in 2018-2019. Representation of EY Corporate Advisory Services Company Limited
(EY) as the plan preparer of Energy Earth Public Company Limited (EARTH), a listed
company engaging in the mining, importing, and distribution of coal, as well as power projects in
Thailand and internationally, in its THB 23 billion (USD 726 million) business rehabilitation in
2017-2019. Weerawong C&P advised and represented EY in relation to its rehabilitation plan and
contentious court proceedings. Representation of Krung Thai Bank
Public Company Limited, Thailand’s 2nd largest bank by assets, and the major creditor in
the restructuring and rehabilitation in the Central Bankruptcy Court of Saha Farms Company Limited
and its affiliate Golden Line Business Company Limited. This was the largest (in terms of the debt
value and the number of creditors) on-going debt restructuring process filed with the Bankruptcy
Court in 2014-2015. Representation of a group of major creditors of
Sahaviriya Steel Industries Public Company Limited, Southeast Asia’s largest flat-steel
manufacturing complex, in its THB 60 billion rehabilitation. Representation of
Recap Investments Pte. Limited (Recap) as buyer for property in
Recap’s USD 500 million (Real Estate Capital Investment) Fund III in Asia. WC&P assisted in
reviewing three potential investments for the fund and advised on the acquisition of Mercury Tower,
a prime CBD Bangkok office block formerly held by Lehman Brothers. WC&P earlier represented
Recap on property purchases in Thailand for their USD 200 million (Real Estate Capital Investment)
Fund I, and their USD 200 million Fund II. Mercury Tower valued at USD 40 million and Recap Fund III
(Total value) at USD 500 million. (Closed: 28 February 2012). Representation
of Thai Telephone & Telecommunication (TT&T), the operator
of a 1.5 million-strong telephone network in the provincial areas of Thailand, in the planning and
negotiation for restructuring and refinancing of TT&T’s debts with its Thai and foreign
financial and trade creditors. Representation of PTT Public Company
Limited, the largest company by market capitalization on the Stock Exchange of Thailand as
a result of the corporatization and privatization of the Petroleum Authority of Thailand. The client
succeeded in the Supreme Administrative Court in having a suit attempting to de-list and privatize
it dismissed. Representation of TCC Capital Land Limited
(TCCCL) in the acquisition of shares in Metropole Phuket Company Limited from its
major shareholders. Representation of Rich Plus Real Estate Company
Limited in the rehabilitation process (in-court) with its creditor. Representation of ITV Public Company Limited in an appeal of a
judgment of the Administrative Court in relation to concession fees and also advising on the
business rehabilitation plan of the company. Representation of Saha
Rattana Nakorn Company Limited, a real estate developer, in connection with its second
rehabilitation plan. Representation of Bangkok Rubber Public Company
Limited, a company in the sports footwear industry, in connection with its rehabilitation
process under the Bankruptcy Act. Representation of Rangsit Footwear
Company Limited in relation to the rehabilitation process (in-court) under the Bankruptcy
Act. Representation of Kiatnakin Bank Public Company Limited,
as creditor, in connection with the reorganization plan of its debtors and also assisting Kiatnakin
in the relevant in-court procedures. Representation of Srithai Food
& Beverage Public Company Limited in relation to the rehabilitation process (in-court)
under the Bankruptcy Act. Representation of Srithai Feedmill Company
Limited in relation to the in-court rehabilitation process with its creditors. Representation of Srithai Realty and Development Company Limited in
relation to the rehabilitation process (in-court) under the Bankruptcy Act. Representation of Nakorn Thai Strip Mill Public Company Limited in
relation to the implementation of the business reorganisation plan approved by the bankruptcy court
pursuant to the Bankruptcy Act. Representation of Mahachai Kraft Paper
Company Limited in relation to a rehabilitation process under the Bankruptcy Act. Representation of Datamat Public Company Limited in a restructuring
of its debt obligations with its creditors. Representation of P.T.K.
Metal Company Limited in relation to debt restructuring with its creditors through the
in-court rehabilitation process. Representation of Sunflag
(Thailand) Limited in connection with the rehabilitation process
(in-court) under the Bankruptcy Act. Publications
‘Thailand’, Restructuring & Insolvency - Getting the Deal Through, Law Business
Research, 2012-2017 |
