Pattaya Daily News

Published : October 08, 2010 :: 14:10:23 [ 2,435 views ]

Thailand’s Financial Institution Development Fund’s (FIDF) decision not to appeal a ruling made by the Civil Court last month means Khunying Pojaman na Pombejra, Thaksin Shinawatra’s ex-wife, will now receive Bt823 million from the sale of Bangkok real estate back to the fund.

Bangkok, the 7^th of October 2010: Bank of Thailand (BoT) Deputy Governor Mrs. Thong-urai Limpiti, acting as fund manager, said that the FIDF board resolved not to appeal the court ruling on advice from the Office of the Attorney-General (OAG) and the central bank’s legal department.

Thailand’s Civil Court last month ruled that the purchase of some 33 rai of prime Ratchadapsik land agreed between the FIDF and Khunying Pojaman na Pombejra was invalidated as it violated Article 100 of the National Anti-Corruption Commission Act. The Act stated that government officials, including Prime Ministers and their spouses, are prohibited from entering into or having interest in contracts with state agencies under their supervision.

Khunying Pojaman purchased the large portion of land in Bangkok’s Huai Khwang district at a reported discounted price while her then husband and premier Thaksin Shinawatra was in power. Thaksin has since been sentenced to serve 2-years in prison over the deal and his abuse of power, which will be enforced upon his return to Thailand.

According to last months ruling, the four titles deeds, covering 33 rai, are to be returned to the FIDF who must then reimburse Khunying Pojaman with the Bt772 million purchase price and 7.5% interest retroactively from when she filed a suit against the FIDF to return the money in 2009. The interest equates to a further Bt51 million.

The BoT deputy governor said that the return of monies to Khunying Pojaman represented a greater advantage for the FIDF than appealing the court verdict, citing further interest payments as a key factor in the decision. In addition, the overall amount due, Bt823 million, is still under the Department of Lands current evaluation of the real estate which stands at Bt900 million.

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Type : Thailand News
Story : John Weston
Photo : Internet

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