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Nearly 6,000 Thai Airways staff to be laid off
BANGKOK (The Nation/ANN): Thai Airways (THAI) will have to dismiss more than 6,000 employees after entering a bankruptcy procedure and a debt moratorium of Bt200 billion, the government said on Thursday (May 21).
Cabinet approves bankruptcy restructuring for Thai Airways
BANGKOK, May 19 (THE NATION/ANN) - The Cabinet today (May 19) approved the Transport Ministry's proposal that Thai Airways International (THAI) undergo rehabilitation under the Bankruptcy Act, said Prime Minister Prayut Chan-o-cha.
‘Legal shield’ for contracts
Provide a legal ‘shield’ to Covid-19 events. Time-freeze and temporarily suspend contractual convenants to avoid legal entanglements,
Govt does not intend to amend Bankruptcy Act
KUALA LUMPUR: The government has no intention to amend the provisions under Section 60 (1) of the Bankruptcy Act (Amendment) 2017 (Act 1534).
Credit card interest charges to stay
MALAYSIA will not abolish interest charges imposed on credit cards used in retail shopping, Deputy Finance Minister Datuk Othman Aziz said.
Young, carefree and broke
They are young and carefree to the point of being careless, and have expensive tastes. Branded handbags, holidays to exotic places, fancy cars and lavish weddings all lead them into huge debts. By the age of 30, they are bankrupt. Some as young as 25 are among the shocking 60% of the 94,400 people declared bankrupt in the last four years.
News nibbles
BANGI: Creditors cannot initiate bankruptcy proceedings against invalids and debtors suffering from chronic diseases, said Minister in the Prime Minister’s Department Datuk Seri Azalina Othman Said.
Insolvency Dept to clear 10,000 bankrupts per year for next five years
BANGI: The Insolvency Department is working towards releasing at least 50,000 bankrupt individuals after amendments were passed by Parliament recently.
Lajim set to get back party president’s post
KOTA KINABALU: Sabah Opposition leader Datuk Seri Lajim Ukin caught in a week-long bankruptcy saga is set to be reinstated as Parti Harapan Rakyat president.
Lajim to be reinstated as Parti Harapan Rakyat Sabah president
KOTA KINABALU: Sabah opposition leader Datuk Seri Lajim Ukin is set to be reinstated as Parti Harapan Rakyat Sabah president.
