News Detail

Date/Time
04 Apr 2019 13:12:00
Headline
Progress report on the execution of Supreme Court of Criminal Division for Politicians(Additional)
Symbol
AQ
Source
AQ
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                -Translation-


SET. 007/2019                                   
11 March 2019

Subject: Progress report on the execution of Supreme Court of Criminal Division 
for Politicians (Additional)
To:    Directors and the Manager
                The Stock Exchange of Thailand
C.C.      Letter No.036/2018, dated 17 October 2018

The company would like to notify in accordance with the letter No. SET.036/2018 
dated 17 October 2018 that AQ Estate Public Company Limited had reported the
auction of mortgaged property at the price of THB 8,914.07 million on 17 October
 2018. The properties sold at the auction were divided into 3 groups as follows.
1.    The first group was the criminal cases of Persons Holding Political Positions
in decided case No. AuMor.55/2015 by confiscating of land auction of Golden
Technology Industrial Park Company Limited at total of 1,768 rai. The value
property of auction buyer was THB 4,019.62 million. The buyer had placed the
deposit of THB 201 million. The remaining would be paid within 1 February 2019
and on 24 January 2019, the buyer paid THB 3,818.62 million.
2.     The second group was the civil suit in decided case No.4007/2009 and 
undecided case No. Tho.59/2018. Krisadamahanakorn Public Company was the
plaintiff prosecuted Golden Technology Industrial Park (Golden), the defendant
on land deposit. The land of this case seized at auctioned property for sale in
the amount of 659-3-60 rai, land ownership belongs to the Golden Company. The
auction buyer purchased price of THB 1,261.02 million, deposit of THB 65
million, the remaining amount must be paid THB 1,196.02 million. The petitioner,
K&V RS Co., Ltd., held by Golden 99.97%, filed the request to revoke auction by
claiming that the auction was unlawful. The Company filed the objection on 24
January 2019 to such petition, and the court made an appointment to hear civil
court order on 20 March, 2019. The court sentenced that the petitioner was only
Golden Company shareholder. The petitioner therefore did not become stakeholder
in the case. In addition, the petition to revoke auction in this case concerning
or affecting the petitioner which was the judgment debtor in middle bankruptcy
case. The petitioner claimed that the petitioner could not repay debt to the
creditor completely and were damaged thereby deemed to defend the debtor
property. When the petitioner was sentenced by court to be bankrupt, the power
to defend lawsuit regarding property of petitioner was the authority of official
receiver only. The petitioner had no authority to file petition in the case.
The trial court result dismissed petition.
3.     The third group was the case of Central Bankruptcy Court in decided case No.
L. 1249/2012. The property sold at auction from this case of 1,868-3- 97.72 rai
and land ownership belongs to K&V RS Company Limited. The auction buyer
purchased price of THB 3,633.43 million, deposit of THB 182.50 million, the
remaining amount must be paid THB 3,450.93 million within 1 February 2019. K&V
filed the objection, causing the buyer to submit such matter to court against
the petition of K&V Company, which was between the three objections and divided
as follow.
3.1 Undecided case No. SL.365/2018 regarding the revocation order, the official 
receiver had ordered the title deed to 610, area 18 rai 83 square wah from the
auction, which was part of Ms. Charoen Yukongtham in the ratio of 800.66 and
proceeded to sell the auction. In this case the petitioner had applied for
revocation as the auction unlawful. The court accepted the petition as objection
and called the Golden Company as the third objector, then completed the
examination witnesses and made the appointment to hear order on 5 March 2019.
The case result was dismissed by the court.
3.2 Central Bankruptcy Court in undecided case No. SL. 388/2018, the petitioner 
filed claiming that bring the property of petitioner was sold together with land
Golden Company unlawful and to suspend temporarily the auction. The court had
ordered the petition and attached documents to the petition. In the event that
was no legal reason to suspend the auction, according to petition. The court
therefore ordered to dismiss the petition.
3.3 Undecided case No. SL.438/2018 regarding the revocation auction of the 
second debtor's land (K&V SRS Garden Home Company Limited). In this case, the
objector had submitted the request to revoke as unlawful auction and requested
to the temporarily suspend enforcement on 4 February 2019. The court ordered the
company attorneys, the stakeholders (Golden Company) and called the second
objector which will appoint witnesses on 25 and 26 April 2019.
Currently, the buyer of collateral land had submitted the court matter to be 
paid the remaining amount upon completion in the amount of THB 4,646.95 million.


Please be aware and please spread further.
Yours Sincerely,
(Mr. Suthad Chankingthong)      (Ms. Ranchana Rajatanavin)
Director                         Director
______________________________________________________________________
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