The Central Bankruptcy Court has accepted the Thai Airways International (THAI) case and set the first hearing for August.
The court said on Wednesday the first hearing would start at 9 am on Aug 17.
It ordered its acceptance of the case be announced in at least one daily newspaper at least twice, no more than seven days apart. The court’s decision will also be announced online.
It ordered copies of THAI’s bankruptcy process request to be sent to its creditors and other parties.
The court also stated that creditors of THAI could oppose the restructuring process for up to three days prior to the first hearing. After that, the court would consider that creditors agree with the process.
THAI filed its bankruptcy request with the court on Tuesday, seeking protection to continue business pending debt restructuring and rehabilitation.
The company has outstanding debts totaling 200 billion baht, 30% of which are owned domestically.
