Stark bondholders told to file debt claims with bankruptcy court

Bondholders of Stark Corporation Public Co Ltd (STARK) on Friday have the right to file debt repayment claims in the Central Bankruptcy Court's ongoing bankruptcy proceedings, Thailand's Securities and Exchange Commission (SEC) said. 

The case involves UOB Bank Pcl, the creditor plaintiff, and Vonnarath Tangkaravakoon, the debtor. Claims can be submitted electronically, in person, or through an authorised representative using forms provided by the Legal Execution Department, either at their central office or any regional branch, the SEC advisory said.

This action follows the Central Bankruptcy Court's asset seizure order against Vonnarat Tangkaravakoon on December 18, 2024. 

Under the provisions of the Bankruptcy Act BE 2483 (1940), creditors are required to submit their claims to the Official Receiver, Legal Execution Department, within a two-month period. This period commenced with the publication in the Royal Gazette on February 11, 2025, and will conclude on April 11, 2025.
 

The SEC has strongly advised STARK bondholders to lodge their debt repayment claims to safeguard their entitlements, utilising one of the following methods:

• Electronic submission: Claims and supporting documentation can be filed online, adhering to the procedures and conditions outlined on the Legal Execution Department’s website: https://reqonline.led.go.th/online/pages/login.jsp 
• Physical submission: Claims can be submitted in person to the Official Receiver at the Litigation Division (2nd Floor), Legal Execution Department Building, 189/1 Bangkhunnon Road, Bangkhunnon, Bangkoknoi, Bangkok 10700, or at any of the department’s regional offices. Claim forms are available for download from the Legal Execution Department’s website: https://www.led.go.th/th/views/2567/02/79-7.pdf 
   

STARK bondholders can access detailed information regarding required documentation and claim submission guidelines on the Legal Execution Department’s website: https://www.led.go.th/efiling/pdf/efiling-lom.pdf.

Alternatively, they can contact the Bankruptcy Case Division 1, Legal Execution Department, by telephone at 0-2881-4999, extensions 4145 or 4949.

The process for submitting debt repayment claims and eligibility criteria for bankruptcy cases are governed by the Bankruptcy Act BE 2483 (1940). 

Filing a claim in the case involving UOB Bank Pcl and Vonnarat represents the exercise of STARK bondholders’ right to seek repayment. The success of these claims, however, hinges on the evidence presented and the discretion of the Official Receiver or the Central Bankruptcy Court, the SEC said.