Thailand to host Int'l Conference on Cross-Border Insolvency

BANGKOK, June 20 (TNA) - The Thai government, through the Ministry of Justice's Legal Execution Department, will host the International Conference on Cross-Border Insolvency in Bangkok later this week, in which over 300 representatives from Asia, Europe and the United States will take part. The department's Director-General Ruenwadee Suwannamongkol told journalists on Monday that the upcoming international gathering, scheduled for June 22-25, is aimed to create a platform for the participants to exchange knowledge and experiences on cross-border insolvency. Ruenwadee said the four-day conference is in line with resolutions of earlier ASEAN Senior Law Officials Meeting and ASEAN Law Ministerial Meeting. Ruenwadee pointed out that the international conference is vital to Thailand, as the country is seeing more international trading and investment and shared relevant knowledged and experiences from several countries will, thus, help modernise Thai laws to suit and cope with the global changing situation. According to the senior official, a prototype of Thailand's cross-border insolvency draft law will also be presented before the forthcoming international conference to seek a feedback and proposed views by the participants, before it will be reviewed by concerned Thai authorities, opened for public debates next month and forwarded to the National Legislative Assemble (NLA) for further deliberation and a final vote late this year. (TNA)