“Wanrat Tangkaravakun” will not fight the lawsuit filed by STARK retail bondholders.

Bangkok, "Wanrat Respect you,' the major shareholder of STARK made a statement to the Civil Court. With a trembling voice, he confirmed that he was not wrong, but he was not careful and did not fight the lawsuit filed by a small bondholder. Announcement of remaining assets to be used to provide relief to the victims. Dr. Weerapat Pariyawong, legal advisor A representative from a group of more than 4,600 people who were victims of Stark bonds revealed that on the morning of January 29, 2024, Mr. Wannarat Tangkaravakun, the major shareholder of S Company Stark Corporation Public Company Limited or STARK, the first defendant in the case, another group of debenture victims sued. Five directors of STARK Company traveled to the courtroom at the Southern Bangkok Civil Court. to make a statement to the court with a voice crying to the court Confirming that he was not at fault, but not being careful, he asked the court to instruct his lawyer not to fight this case. It will help heal the damage that has occurred. As for Mr. Wannarat's statement to the Civil Court, he stated that he was extremely sorry for the incident that occurred with Stark Corporation Public Company Limited and the Stark Group. Even though I am not Even the offender But I feel very sad that I cannot. Can take care of the details of management. Moreover, trusting the wrong person causes Errors and corruption occurred in the Stark Company and the Stark Group, but what happened to the Starks is a personal matter to me. Not related to my family And I also saw that other directors should not be involved. with this matter as well Including low-level employees who are lured or pressured into having to comply with the orders of the perpetrator of corruption. These are people who deserve sympathy and do not deserve to be jointly held liable for the wrongdoers who have ordered them to do so. I can feel the extreme suffering of the group of small bond buyers who had to share in this misfortune. I therefore would like to ask the court to please speed up the pro cess of considering this case quickly. and instructed my lawyer not to fight this case This is in order to quickly bring my remaining assets to provide relief to the victims. In addition, I, as a major shareholder of Stark Company, will proceed Every effort is made for the benefit of the small bond buyer group or until the small bond buyer group receives complete remedies. Initially, I will write a letter expressing my intent to the Stark Board of Directors requesting an expedited termination. Proceedings regarding the bondholder group as quickly as possible. By accepting the truth that happened So that the group of bondholders will have full legal rights to enforce the case against Stark's assets. Including shares and rights to claim a loan that Stark had lent to Phelps Dodge International (Thailand) Co., Ltd. in the amount of several billion baht. Because if the time is running out, the bondholders may not receive full justice because Phelps Dodge International (Thailand) Company Limited is entering busi ness rehabilitation, which means being Forced by major creditors to restructure the debt and reduce this debt balance in the near future. Now the truth is evident at a certain level that The money from corruption amounting to 8,000 million baht was partly hidden in England. and another amount at the Department A special investigation found that it was in the possession of the perpetrator. Where is the corruption money? That person must be held accountable. I can only hope that government agencies will be able to complete this matter as quickly as possible. and the perpetrator can be sued and eventually punished. As for what misfortune I will have to face, let fate decide. Source: Thai News Agency