Abstract:
Although the corporate group is the most typical structure of modern enterprises for years especially in case of medium and large enterprises, there is still no any specific provision as in the Bankruptcy Act of B.E. 2483 regarding case administration and treatment of corporate groups in insolvency. Such case must be considered in a standalone principle, leading to the separate adiministration and treatment of the estates of each of the group entities. Accordingly, this thesis aims to study the nature, from and legal principle about corporate groups that may relates to the study regarding corporate groups in insolvency. It also examines main and considerable principle, procedure and legal measure of Thai Bankruptcy Law concerning liquidation and reorganization of corporate groups. Futhemore, in order to crystallize an appropriate treatment of corporate groups in insolvency, comparative study with relation to such principle and measure in case of corporate groups in the United States and United Nation Commission on International Trade Law (UNCITRAL) is also taken on in this thesis. The study demonstrates that even though some remedies have already been applied practically in reorganization case of corporate groups in Thailand, such application without legalized basis and framework causes problems regarding legality, certainty and disputes. Thus, a dogmatically satisfactory statutory basis needs to be formulated. Not doing so would undoubtedly affects bankruptcy and reorganization law perspective of its effectiveness and maximization of value of assets as a key objective of an effective and efficient insolvency law. Consequently, the thesis proposes to amend the Bankruptcy Act of B.E. 2483 to approbate concept regarding corporate groups and authorize legal treatments of corporate groups in bankruptcy and reorganization case by classifying corporate groups in order to match up to suitable legal measure as suggested in the thesis and adopting the U.S. and UNCITRAL scheme regarding this issue. Simultaneously, a reseaarch concerning corporate groups and its feature in Thailand and pursuing of any development regarding this issue in other countries and international organization, which is still progress presently, should also be done.