TPI update: bye-bye, Prachai | 30.11.05
Prachai Leophairatana is now all but out of TPI:
Court rejects Prachai’s last efforts
TPI restructuring moves forward
The five-year, $2.7-billion restructuring battle over Thai Petrochemical Industry appears to be nearing its end after the Supreme Court yesterday rejected a last effort by founder Prachai Leophairatana to regain control of the 21-year-old company.
The Central Bankruptcy Court yesterday announced that the Supreme Court had dismissed a petition by Mr Prachai to seek first rights to an upcoming share offering.
Guess he’ll now be the full-time sugar-daddy of the civil, honest, fair, and enlightned anti-Thaksin forces. Khun Abhisit take note, here’s another tycoon in need of moral support.
This bit deserves to be highlighted:
“I could not win out over the fortunes of Mr Square Face,” he said, in an apparent reference to Prime Minister Thaksin Shinawatra.
Anti-Thaksin upper-crust socialites, some of whom are my relatives, have been employing that “square face” slur for more than a year now. They should be delighted to welcome Khun Prachai to their ranks. Oh, and the Manager Online commenters, too.
Down with populist Thaksin!.
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