Friday, February 26, 2010

Court siezure of Thaksin's assets in Bangkok

According to the FT "Thaksin Shinawatra , Thailand’s controversial former prime minister, has been formally stripped of more than half of his vast wealth in a decision that threatens to reopen the country’s deep political divisions. Thailand’s Supreme Court, in a compromise decision that caught many by surprise, ruled on Friday that Mr Thaksin could keep Bt30bn of his Bt77bn ($2.3bn) fortune, held in assets frozen since he was removed from office in a military coup in 2006."

Who was live-blogging the event?

Newley, Newley.com, Thaksin asset ruling: Images from Thailand’s Supreme Court today
 I spent several hours at the court house today. Here are some images. As you’ll see, there were dozens of police, crowds of TV crews and photographers, and not many red shirt protesters (though many of them gathered elsewhere).

Bangkok Pundit, Asian Correspondent, Live blog: Thaksin Assets seizure case
21:00 Court is still freezing the 30 billion baht, but it will be returned once settlement is made with interest. Didn't hear mention of any other pending cases to hold for that.

BP: The court's rationale is that Thaksin gets to keep all money he had before he become PM. Any increase in shares is part of the poisoned fruit analogy so the court takes all that.

20:48 For now, it seems the 30 billion Baht will not be seized - may be some interest on the 46 billion - but want to wait until the court stops talking to be 100% sure. Just worried they may say they will freeze that pending other cases unrelated to Shin...

20:42 It seems Thaksin and Potjaman will get the money back from before he became PM. Tentatively, they are seizing 46 billion out of 76 billion and add interest. The question of the 30 billion of when Thaksin was PM is a little unclear yet as the court is still going.

20:35 Court says coup order gives authority to seize the money. Court says they can seize all the money belonging to Thaksin and Pojaman. Now, on whether they were unusually rich.

20:30 As already stated Thaksin was directly involved in the EXIM bank loan (5) and excise tax (1) so basically he is screwed on this part. Now, for the other two issues, namely (2) and (4). The majority of the court says Thaksin abused his authority as PM. So how much they will seize?

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