THAILAND: Thonburi Mercedes assembly plant restructures debts
A plan to restructure the debts of Thonburi Automotive Assembly Plant (TAAP) totalling Bt27.4 billion (US$633 million) has been accepted by the Central Bankruptcy Court in Bangkok, with debt payments due to recommence in June. This comes almost 18 months after the company stopped interest payments due to lack of funds and seven months after the financially troubled Mercedes-Benz assembler thought its first rescue plan had been approved.
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