11 July 2023: JTA attempts to file rehabilitation case against GL for the third time in Thailand after first two attempts failed

Mr. Tatsuya Konoshita, Deputy Chief Executive Officer of Group Lease Public Company Limited, said “let’s review J Trust Asia Pte. Ltd. (“JTA”) actions over the past few years. In 2019, the Central Bankruptcy Court in Thailand dismissed JTA’s rehabilitation petition against GL. JTA kept appealing all the way to the Supreme Court, which finally dismissed JTA’s first petition. Then in April of this year, JTA submitted the second rehabilitation petition against GL. GL submitted the objection. JTA subsequently withdrew the petition, and the Court did not accept the petition on the ground of JTA’s withdrawal. Now JTA is attempting for the third time and the Court will hear their case. As our assets obviously exceed liabilities and it is clear that we are not insolvent, we will continue to fight against these false claims and use this malicious legal attack to get even more compensation in damages from JTA. I had stated at the beginning of the lawsuits in 2018 that we will fight and win, and at last make JTA pay. Our managements and I will state the same here today.”

Mr. Riki Ishigami, Chief Executive Officer of Group Lease Public Company Limited, stated, “it is quite clear that JTA is using the Thai courts and courts across the world as a tool to try to harm GL into submission. The Thai court already clearly rejected the idea that GL is insolvent, all the way to the Supreme Court. JTA’s attempts to put GL into business rehabilitation had already failed 2 times in Thailand, but they again attempted this 3rd rehabilitation case. The intentions of JTA, its group and the management’s for keeping on taking such legal attacks against GL are ones that are malicious. They are using lawsuits for improper purpose other than the proper right to a trial. It is now more than clear that JTA had initiated the lawsuits by ‘Unclean Hands’. We are going to submit this fact to all the courts in all countries. We are now more confident than ever that the courts would understand JTA’s greedy intention, abuse of rights and malicious actions. We will win and we will continue to use our legal victories to make JTA pay us for damages.”