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•  Law Promo News - Legal News


Thailand’s Central Bankruptcy Court on Monday gave the go-ahead to financially ailing Thai Airways International to submit a business reorganization plan and appointed seven planners to oversee it.

A press release from the airline said the plan should be submitted to the court by the end of the year. Then, the company’s receiver will consult creditors for their input before the court approve’s the plan and appoints its administrator in early 2021. The plan will then be implemented.

Thai Airways International in May was carrying an estimated debt burden of almost 300 billion baht ($9.6 billion). Most recently, it ran up 12 billion baht ($383.3 million) in losses in 2019, 11.6 billion baht ($370.5 million) in 2018 and 2.11 billion baht ($67.4 million) in 2017.

Thailand’s Cabinet in May approved a reduction in the government’s stake in the airline to below 50% as part of the reorganization plan. That move was quickly implemented.

With the reduction in the 51% share held by the Finance Ministry, the airline lost its status as a state enterprise. The action also meant that the airline's state enterprise union was automatically dissolved.

The airline initially sought a 54 billion baht ($1.7 billion) bailout loan from Thailand’s government after virtually ceasing operations due to the coronavirus crisis. Some domestic flights have resumed, but all regularly scheduled international flights are still banned.

The airline’s auditors, Deloitte Touche Tohmatsu Jaiyos, last month declined to sign off on Thai Airways' financial statements for the first half of this year, saying a lack of liquidity and debt defaults prevented it from assessing its assets and liabilities.

The airline went a partial restructuring in 2015, when Prime Minister Prayuth Chan-ocha was serving a first term as prime minister in a military government established after a coup. The airline was already deeply in debt and needed to cut loss-making routes, reconfigure its fleet and get rid of staff through attrition.

It is almost certain to cut staff, fleet and flights under any new reorganization plan.

The airline was founded in 1960 as a joint venture between Thailand’s domestic carrier, Thai Airways Company, and SAS, Scandinavian Airlines System, which sold its stake in 1977. The airline’s shares were listed on the Stock Exchange of Thailand in 1991.



The Nebraska Supreme Court has accepted the voluntary surrender of an imprisoned ex-bank executive's law license and ordered him disbarred.

The state's high court said in its ruling Friday that 77-year-old Gilbert Lundstrom's license was already inactive and that he voluntarily surrendered his license in September, noting that he had been convicted in federal court of 12 fraud-related felony counts.

Lundstrom was sentenced in 2016 to 11 years in federal prison for his role in the 2010 failure of Lincoln-based TierOne Bank, where he had served as chief executive officer.

Prosecutors said Lundstrom conspired with other bank officers to hide the bank's troubled finances from regulators and shareholders.

Court orders some fixes in Texas foster care

•  Law Promo News     updated  2018/10/21 13:52


A federal appeals court says Texas must make improvements to abuse investigations within its foster care system and make sure workers have manageable caseloads, but the court also struck down dozens of other measures ordered by a judge.

The 5th U.S. Circuit Court of Appeals issued the ruling Thursday in a years-long case focused on children in the state’s long-term care. U.S. District Judge Janis Graham Jack had ordered sweeping changes earlier this year. Jack’s order followed a December 2015 opinion in which she ruled the system unconstitutionally broken and said children labeled permanent wards of the state “almost uniformly leave state custody more damaged than when they entered.”

The appeals court judges said they understood Jack’s frustration with the state failing to fix problems and agreed that “remedial action is appropriate.”

But the judges said her order went “well beyond” what’s necessary for constitutional compliance.

So while the appeals court said Texas was “deliberately indifferent” to the risk of harm posed by high caseloads and ordered the Texas Department of Family and Protective Services to come up with guidelines for manageable caseloads, the judges nixed Jack’s instruction for all sexualized children — either aggressor or victim — to be placed in a single-child home.



A federal appeals court says the Trump administration endangered public health by keeping the top-selling pesticide chlorpyrifos on the market despite extensive scientific evidence that even tiny levels of exposure can harm babies' brains.

The 9th U.S. Circuit Court of Appeals in San Francisco ordered the Environmental Protection Agency to remove chlorpyrifos from sale in the United States within 60 days.

A coalition of farmworkers and environmental groups sued last year after then-EPA chief Scott Pruitt reversed an Obama-era effort to ban chlorpyrifos, which is widely sprayed on citrus fruits, apples and other crops.

In a split decision, the court said EPA violated federal law by ignoring the conclusions of agency scientists that chlorpyrifos is harmful. The pesticide is sold by Dow Agro Sciences and others.



The clerk of court in one North Carolina county says she never meant to require any of her employees to work for her re-election even though that's what a leaked memo said.

After the memo was published, Surry County Clerk of Court Teresa O'Dell told the Mount Airy News that she doesn't require staff to work for her campaign. She acknowledged that the memo "seemed to indicate otherwise" and sent a follow-up note.

A memo distributed March 27th said employees would be required to campaign for her, including taking vacation time so they weren't doing political work while on the clock.

She also told staffers that she wouldn't be in the office before the primary.

O'Dell is facing a challenge from Neil Brendle in the May 8 Republican primary.



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