THANATHIP & PARTNERS

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Publications

Our lawyers have contributed several articles to leading legal journals. We also periodically share some of our knowledge with our clients, or update them on topical legal issues, in the form of our “Legal Express” publication.

This will generally provide our clients with helpful information, or address more specific legal issues in the areas of securities and banking, especially those which we believe are of relevant interest to our platinum clients. Certain editions of our “Legal Express” publication have also included comments, as well as practical solutions, or suggestions from Thai authorities.

Principal Forms of Business Entity in Thailand
October 2020
Businesses may be incorporated and operated in many forms in Thailand depending on the business owner’s purposes. For instance, they could be operated in a form of an ordinary partnership, limited partnership, limited company, branch office, representative office and reginal office. However, the principal forms of business entity which are most commonly adopted in Thailand comprise a private limited company and a public limited company with further details as set out below.
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Thai Takeover Regulations
August 2020
This memorandum sets out key regulatory considerations concerning takeovers of companies (the “Target Co”) listed on the Stock Exchange of Thailand (the “SET”), with a focus on a mandatory tender offer under the Notification of the Capital Market Supervisory Board No. TorJor. 12/2554 entitled Rules, Conditions and Procedures for the Acquisition of Securities for Business Takeovers (as amended) (the “Notification”), the Securities and Exchange Act B.E. 2535 (as amended) (the “SEC Act”) and relevant notifications issued thereunder.
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Business Reorganisation
August 2020
Under the business reorganisation scheme, the debtor will be able to continue its business operation and preserve its enterprise value which might otherwise be lost should its assets were separately distributed to each creditor who pursues individual claim against the debtor, while the creditors’ interests will concurrently be protected, allowing them to receive the repayment of outstanding debts fairly and equally and not less than the amount they would otherwise have received in a liquidation process..
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Electronic Signature
June 2020
An electronic signature, or e-signature, is legally recognised under Thai laws, whereby a wet ink signature is not strictly required for a valid contract. In this connection, an e-signature may be a letter, character, number, sound or any other symbol created in electronic form to identify and establish acceptance of the signatory of contents of an electronic document.
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Merger Control in Thailand
June 2020
The Trade Competition Act (B.E. 2560) (2017) (the “TCA”) came into force on 5 October 2017 replacing its predecessorpredecessor, the Trade Competition Act B.E. 2542 (1999), which had been in effect for almost 20 years with questionable enforcement and effectiveness. In particular, merger control provisions under the 1999 Act have never been put into real effect due to the lack of sub-regulations to set out necessary criteria.
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Thailand NVDRs
May 2020
The Office of the Securities and Exchange Commission (the “SEC”) and the Stock Exchange of Thailand (the “SET”) introduced Non-Voting Depository Receipts (“NVDRs”) in 2001 with a view to further increasing trading in Thai securities as well as addressing certain issues encountered by some investors under the Thai Trust Fund (“TTF”) scheme. For example, investors in NVDRs can now be either Thai or non-Thai.
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