Pattaya Daily News

30 July 2008 :: 14:07:31 pm 43186

Supreme Court Accepts Myanmar Exim Loan Case Against Thaksin

BANGKOK, July 30 - Thailand‘s Supreme Court Criminal Division for Political Office Holders on Wednesday agreed to proceed to trial regarding the Export-Import Bank of Thailand (EXIM Bank) loan case filed by the now-dissolved Assets Examination Committee against deposed prime minister Thaksin Shinawatra.
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The court has scheduled its first hearing on the case for September 16.”The lawsuit is under the jurisdiction of the Supreme Court and has been brought in compliance with the litigation process requirement,” the court justice explained. “So, it had issued an order to accept the case.”

The court will issue a summons to the accused within 15 days of the order being issued. The case is the second against Thaksin accepted by the court this week, after judges on Monday agreed to consider charges against the former prime minister and his aides concerning a lottery scheme in 2003.

The EXIM Bank loan scandal originated in the bank’s decision to lend B t4 billion to Myanmar for the purchase of satellite equipment for national development during the Thaksin-led administration.

The loan approval drew criticism that Mr. Thaksin, who supervised the bank at that time, had conducted foreign policy for his Shinawatra family’s business gains.

Following the military coup in 2006, the coup maker-appointed AEC had examined the issue and alleged that the bank loan was approved because Mr. Thaksin had made a personal deal with the Myanmar’s military junta seek its favour in giving a concessions for development of the telecom network system in the country to Shin Satellite, a subsidiary of the then Shinawatra family-held Shin Group.

The AEC also charged that the loan was given with an interest rate lower than normally required and that the grace period was later extended to five years from the original two years.

The questionable loan caused the EXIM Bank to sustain considerable damage and to seek compensation of over Bt600 million from the government. (TNA)

Reporter : PDN staff   Photo : Internet   Category : Thailand News

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