Meanwhile, the FRA has also appointed new special managers ( SM ) to replace the ones whose contracts expired on Feb 18.
12.
Answer : The payments should be made as usual since the FRA will appoint special managers to oversee loan collections at the 56 companies.
13.
The company announced it had officially completed its duties by providing special managers for evaluating the financial positions of the 56 suspended finance firms.
14.
Without official protection, the managers are afraid that the 56 companies'special managers may sue them for signings which could result in a lower asset amount.
15.
In its press release, which quoted group president Sujain Srisukh, the company said the special managers will present their Statements of Affairs on each company.
16.
Sin Bualuang Plc is the sole supplier of the special managers, who will earn Bt150, 000 a month, to be paid by the suspended companies.
17.
It will also offer advice, coordination, information and news relevant to creditors, the FRA, the special managers and the special advisers of each closed firm.
18.
To prepare the special managers for the unprecedented challenge, Sinn Bualuang developed a special manual and provided continuous and rigorous training on a daily basis.
19.
SINN Bualuang Plc, the only provider of special managers to the Financial Sector Restructuring Authority, yesterday announced it had handed over its duties after completing the contract.
20.
The first priority of special managers is to secure and preserve the assets to prevent any further asset deterioration and maximise debt recovery on behalf of creditors and shareholders.
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