On March 5, 2020, the Civil Court in Thailand ruled that that JTA acted in bad faith by filing the false rehabilitation petition against Group Lease in Thailand. The Court also ruled that JTA’s actions caused damages and ordered JTA to pay THB 685.5 million, including lawyer fees, to GL as of March 5, 2020.

GL took civil action against JTA due to JTA’s unjustified attempt to force GL into rehabilitation, even though it is clear GL does not meet the standards for rehabilitation. On August 15, 2019, the Central Bankruptcy Court dismissed the JTA submitted rehabilitation petition against GL for the second time. The court looked at three factors when deciding to dismiss the case:

1. The amount of GL debt owed to JTA
2. The amount of GL’s assets compared to GL’s liabilities
3. The ability of GL to operate the business

Upon looking at those three factors, the court ruled that the amount GL owes JTA is unclear due JTA’s legal actions, GL has assets exceeding its liabilities and therefore is not insolvent, and finally that GL was able to operate the business as usual and therefore dismissed JTA’s petition.

We are pleased the Civil Court agreed that JTA acted in bad faith and caused damage to our company. We hope JTA learns from this case and stops litigating in bad faith. After last month’s decision at the High Court of Singapore in the favor of Group Lease, and today’s decision, it strengthens our argument to continue to fight for compensation for all damages JTA has done and continues to do to GL.