The International Engineering Public Co.,Ltd. (“the Company”) disclosed to The Stock Exchange of Thailand on the 11th August 2016 and the 7th September 2016 that IEC SK 1 Co.,Ltd.,the present 100% subsidiary of the Company, had been sentenced to be bankrupted by the Central Bankruptcy Court whereas the latter kindly shortened the schedule of bankruptcy investigation the 7th September 2016 at 9:00 A.M. and the Court’s order was scheduled on the 15th September 2016, at 9: 00 A.M.
The Central Bankruptcy Court revoked the legal investigation of such bankruptcy case and also the previous bankruptcy order imposed on the Company’s Subsidiary. The new legal investigation was subsequently carried out whereas the Plaintiff’s attorney (K.S. Distribution(Thailand) Co.,Ltd) withdrew its litigation against the Company’s Subsidiary ,thanks to the full debt repayment by the Defendant and the Plaintiff ‘s refusal of taking any further legal proceeding against the Defendant . As such, the court let the Plaintiff to withdraw its litigation against the Defendant and dismissed the legal case from its record.
Source: IEC investor relations
15/09/2016