Does Thailand Bar Enforcement of Ipso Facto Clauses? What is an Ipso Facto Clause? Although the term “Ipso Facto Clause” reeks of legalese, it is acceptable short hand for describing a particular type of contract clause that is often relevant to (but not limited to) bankruptcy cases. An Ipso Facto Clause is a provision in [...]
Yes, in some circumstances. This firm had a claim initiated by a party to a charter party agreement (“CPA”) dismissed and compelled arbitration on that claim because the CPA contained an arbitration clause. Significantly, our client was not a signatory to that CPA. But, because the charterer based its claim on an agreement containing an [...]
Covid-19 has created a perfect storm for regulatory lapses and failures: an unprecedented combination of business and regulatory disruption in a condensed time of period. Compliance requirements and safeguards are ignored, and compliance investigations hindered, delayed, or canceled. But do not expect the Department of Justice or the Securities and the Exchange Commission(“SEC”) to relax enforcement [...]
On 17 April 2020, the Thai government published in the Royal Gazette two ministerial regulations relating to social security relief. One of them temporarily increases unemployment allowance rates (from a maximum of THB 7,500 to THB 15,000) and the eligible period (from a maximum of 180 days to 200 days) for employees whose employment comes [...]
On 19 May 2020, the cabinet of Thailand decided to postpone the enforcement of Thailand’s first general data privacy law known as the Personal Data Protection Act (“PDPA”) from 28 May 2020 until 1 June 2021, citing the unreadiness of both private and public sectors. The cabinet also approved on the same day the appointment [...]
On 19 April 2020, the Thai Government published in the Royal Gazette a new Emergency Decree on Teleconferences through Electronic Devices B.E. 2563 (2020) (“2020 Emergency Decree”). The 2020 Emergency Decree superseded the Announcement of the Head of the National Council for Peace and Order No. 74/2557 issued on 27 June 2014, which governed electronic [...]
Business operators in Thailand are afforded the protection against unfair trade practices under the Trade Competition Act 2017 (“Act”), with the exception of a few categories of operations and businesses prescribed under the Act. The Act, which is aimed at promoting trade competition, imposes a general prohibition on certain unfair trade practices and behaviours damaging [...]
On 9 March 2020, Tesco Plc (“Tesco”) announced the sale of its operations in Thailand and Malaysia to four entities under Charoen Pokphand Group, for US$10.6 billion. The announcement came three months after Tesco first announced a strategic review of its Asian operations. Central Group and TCC Group were reportedly shortlisted for the deal. When [...]
New Regulation on Unfair Practices in Franchise Businesses In order to prevent franchisees from being unfairly treated by franchisors and to promote freedom to compete, fairness and transparency, the Office of Trade Competition Commission (“OTCC”) recently issued a notification setting out the guidelines for unfair trade practices in franchise businesses pursuant to the Trade [...]
Regarding the adoption of company resolutions by unlawful means, the law that Thailand currently has in place is still not able to protect shareholders in a timely manner. Specifically, temporary preliminary injunctions or temporary emergency injunctions to halt enforcement of such company resolutions before the matter is actually considered by a court have little chance [...]
