On 18 December 2024, the Central Bankruptcy Court issued an order for total receivership of the assets of Mr. Vonnarat Tangkaravakoon. Pursuant to the Bankruptcy Act, B.E. 2483 (1940), the next step is for the creditors to submit a request for debt repayment to the official receiver of the Legal Execution Department within two months from the publication date in the Government Gazette on 11 February 2025. The submission deadline is 11 April 2025**.  

The SEC is therefore suggesting STARK bondholders exercise their right by submitting a request for debt repayment through the following channels:    

          1) Electronic submission: The bondholders may use the electronic form and attach supporting documents according to the procedures and the terms and conditions specified on the Legal Execution Department website at https://reqonline.led.go.th/online/pages/login.jsp

2) Hardcopy submission at the Legal Execution Department: The bondholders may submit a request for debt repayment to the official receiver at the Opposing Party Division, 2nd Floor, the Legal Execution Building at 189/1, Bang Khun Non Road, Bang Khun Non Sub-District, Bangkok Noi District, Bangkok 10700, or the Legal Execution Department offices nationwide. The Request Form is available at the Legal Execution Department https://www.led.go.th/th/views/2567/02/79-7.pdf

STARK bondholders can find information on the supplementary documents and guidelines for submitting a debt repayment request on the Legal Execution Department's website at https://www.led.go.th/efiling/pdf/efiling-lom.pdf or call the Bankruptcy Case Division 1 for inquiries at 0-2881-4999 extension 4145 or 0-2881-4949. 

The submission process and the persons eligible for debt repayment submission in bankruptcy cases are in accordance with the Bankruptcy Act B.E. 2483 (1940). In the case between UOB as the creditor and plaintiff, and Mr. Vonnarat Tangkaravakoon, as the debtor, the filing for debt repayment is an exercise of the bondholders' right. Whether the bondholders will receive repayment depends on the evidence provided to substantiate their claims and the discretion of the official receiver or the Central Bankruptcy Court in issuing further orders. Bondholders are advised to stay informed through the bondholders’ representative. 

Remarks:  

* More information about the deadline for filing for debt repayment in the Undecided Bankruptcy Case No. Lor. 9679/2025 of the Central Bankruptcy Court between UOB (Thai) Public Company Limited, the creditor and plaintiff, and Mr. Vonnarat Tangkaravakoon, the debtor, is available at: https://www.led.go.th/pdf/lom1-9679-2567-n.pdf

** Notification of the Official Receiver regarding the Order for Total Receivership is available at: https://ratchakitcha.soc.go.th/documents/58928.pdf