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Court dismisses application to stay payment of ฿24bn compensation to Hopewell Thailand

webfact

By webfact
in Thailand News

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webfact Grand Master Member

webfact

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Hopewell.jpg

 

Thailand’s Central Administrative Court dismissed an application today (Wednesday), by the Transport Ministry and the State Railway of Thailand (SRT), for a stay of execution of the ruling, by the Supreme Administrative Court, ordering the two state agencies to pay Hopewell (Thailand) Company 24 billion baht in compensation for the cancellation of the elevated highway and rail project about 20 years ago.

 

The court ruled that the application for a stay of execution did not meet the criteria for a stay, citing the fact that both state agencies had challenged the order of the Supreme Administrative Court in the Constitutional Court and had asked the Administrative Court to invalidate the registration of Hopewell Thailand Company.

 

The court also said that there is no law empowering the court to grant a stay, particularly in a case which has already received a final ruling from the Supreme Administrative Court.

 

Full story: https://www.thaipbsworld.com/court-dismisses-application-to-stay-payment-of-฿24bn-compensation-to-hopewell-thailand/

 

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ThailandRyan Star Member

ThailandRyan

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6 minutes ago, Excel said:

Can't do that now. Contracts signed and no doubt billions of baht transferred to overseas accounts.

That's right Thai's never sell anything once they buy them unless they can get more money after say 5 years.

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Srikcir Platinum Member

Srikcir

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Considering the amount of the initial award ordered paid by the Thai courts, the interest rate for nonpayment, and the amount of time Prayut has allowed to pass without a single payment, the current sum owed is likely going to exceed double the original award (Rule of 72 - at an interest rate of 7% pa, the initial amount owed will double in 10 years, etc).

 

As the Prayut regime continues to defy the lower court and Supreme Court's award, the Thai taxpayer should not be held liable, but rather those government officials personally should bear the carrying cost of the interest. 

 

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hotchilli Star Member

hotchilli

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6 hours ago, RichardColeman said:

This will hit the coffers a bit. Still they have another 180 days to try to wriggle out of it.

I'm sure they will try, the contract was cancelled 20 years ago... still no settlement.

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natway09 Platinum Member

natway09

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The SRT broke the conditions of the contract. I have been watching this for a long time.

It is time to I pay up & move on (with a bit more wisdom & a bit less greed),

but I doubt they have the nouse to understand commercial law

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renaissanc Silver Member

renaissanc

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The annoyance for the Ministry of Transport of having to pay this sum is that the traditional 35% Rule states that 35% of the National Budget gets stolen in corruption. 35% of 25 billion Baht is 8.75 billion Baht. The court is depriving the relevant politicians and officials of this treasure chest. No wonder they are fighting the court's decision.

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ParkerN Gold Member

ParkerN

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4 hours ago, RichardColeman said:

This will hit the coffers a bit. Still they have another 180 days to try to wriggle out of it.

And wriggle like hell they most assuredly will.

 

But this is another (if relatively non-consequenttial on its own) brick in the wall. The signs are there to be read.

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ParkerN Gold Member

ParkerN

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Just now, Mr Meeseeks said:

Good luck getting anything out of these greedy parasites. 

And I am quite sure they will  deny any suggestion that no country in the world trusts them, and be genuinely puzzled that anyone would say such a thing. Stupid foreigners eh? Clueless.

 

Thais rule the world, and have the only worthwhile language in the world (that the Thai government itself says that 65% of Thais cannot speak properly).

 

I feel all privileged and stuff to live in the third world.

 

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RocketDog Platinum Member

RocketDog

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21 hours ago, ParkerN said:

And I am quite sure they will  deny any suggestion that no country in the world trusts them, and be genuinely puzzled that anyone would say such a thing. Stupid foreigners eh? Clueless.

 

Thais rule the world, and have the only worthwhile language in the world (that the Thai government itself says that 65% of Thais cannot speak properly).

 

I feel all privileged and stuff to live in the third world.

 

5555. I'm feeling the "and stuff" part right now. 

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RocketDog Platinum Member

RocketDog

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13 minutes ago, ParkerN said:

 

Jesus wept. Please don't remind me of the lunacy. I already feel like I'm surrounded by a funny farm...

Hey Parker. The only way I cling to the scant threads of sanity I have is to remind myself that I can still recognize outright lunacy when I see it. 

Please don't ask me to abandon that solice. But I probably should keep it to myself. 

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