Thailand's Thaksin administration faces the possibility of another setback if the Supreme Court rules that founder Prachai Leophairatana should be given first option to buy shares in Thai Petrochemical Industry Plc (TPI), instead of PTT Plc and other government-backed investors.
Earlier this month, the Supreme Administrative Court, acting on a petition by civic and consumer groups, blocked the Bt32 billion-Bt35 billion initial public offering of Egat Plc, pending a review of two decrees. Chances prevail that he ruling could go in favour of Prachai, who petitioned the Supreme Court that the Leophairatana family be given the right to buy any new and existing shares of TPI held by creditors before strategic investors were allowed to step in
Which way will the takeover of Southeast Asia's largest petrochemical complex head, after a long drawn 7 year legal battle?
29-Nov-05 
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