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Court asks 20m euro for return of Thai jet
Source: Agencies |
July 21, 2011, Thursday
|
Print Edition
Print Edition
A GERMAN court yesterday ruled Thailand's crown prince would have to pay a 20 million euro (US$28.40 million) deposit for the return of his plane, impounded during a long running commercial dispute.
German insolvency officials seized the Boeing 737 last week to force the Thai government to repay debt linked to a Bangkok road construction project.
The Thai government called the seizure "a great mistake," and sent a delegation to Berlin to explain the jet belonged to the prince, not the government.
The Landshut court in Bavaria said in a statement yesterday the 20 million figure was based on the estimated value of the plane.
It said a deposit was necessary as it had not yet decided on the ownership of the plane.
Insolvency administrators have been trying to retrieve 30 million euros from the Thai government on behalf of a defunct German company.
The dispute goes back more than 20 years to when German company Dywidag helped build a 26-kilometer toll road to Don Muang airport.
An arbitration court had established in 2009 the validity of the claim from Walter Bau, which merged with Dywidag.
German insolvency officials seized the Boeing 737 last week to force the Thai government to repay debt linked to a Bangkok road construction project.
The Thai government called the seizure "a great mistake," and sent a delegation to Berlin to explain the jet belonged to the prince, not the government.
The Landshut court in Bavaria said in a statement yesterday the 20 million figure was based on the estimated value of the plane.
It said a deposit was necessary as it had not yet decided on the ownership of the plane.
Insolvency administrators have been trying to retrieve 30 million euros from the Thai government on behalf of a defunct German company.
The dispute goes back more than 20 years to when German company Dywidag helped build a 26-kilometer toll road to Don Muang airport.
An arbitration court had established in 2009 the validity of the claim from Walter Bau, which merged with Dywidag.
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