8 June 2016
A recent amendment to the Bankruptcy Act B.E. 2483 (1940) (the "Amendment") allows SMEs to enter into business rehabilitation which is faster than the normal rehabilitation process. A new section has been added to the Bankruptcy Act specifically for SME debtors to avoid SMEs being liquidated as a result of a temporary lack of financial liquidity. This briefing provides an outline of the conditions and criteria under the Amendment.