Thai Co. Must Pay Deutsche Unit $31M In Bond-Default Suit

Law360, London (March 29, 2019, 6:34 PM GMT) -- A London judge ordered a Cayman Islands-registered unit of a Thai property development company to pay more than $31 million to a Deutsche Bank subsidiary after concluding that rights related to decades-old bonds at issue in the litigation continue to “exist and to be exercisable."

In his Tuesday order, Judge Robin Knowles noted that the defendants in the litigation, Bangkok Land (Cayman Islands) Ltd. and Bangkok Land Public Company Ltd. did not appear at trial and weren't represented.

In its High Court litigation, Deutsche Trustee Company Ltd. said the property development company issued $150 million in bonds in October 1993, and...

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