New Nordic Development Co., Ltd (the “Company”) hereby announces that the Board of Directors ratified the Company’s decision to file for rehabilitation with the Central Bankruptcy Court under the Bankruptcy Act B.E. 2483 (1940 A.D.). In light of this, the Company has petitioned for rehabilitation with the Central Bankruptcy Court on 28 January 2021.
This rehabilitation process will allow the Company to gradually reach the objectives of its proposed rehabilitation plan more effectively with support from relevant regulations, thereby providing equitable protection to relevant parties. Moreover, the Company will be able to continue its business operations during the rehabilitation process. The first hearing at the Central Bankruptcy Court will be held on 31 May 2021. All creditors will be contacted in the near future with additional information.
Siripoom Boonmamuang | Director, New Nordic Development Co., Ltd