Bangkok: Global Green Chemicals PCL (GGC) has shared the latest updates regarding the lawsuits stemming from the missing raw material inventory incident that occurred in June 2018. The legal proceedings encompass 8 criminal cases and 5 civil cases, with GGC also being sued in 6 civil cases. All cases have shown significant progress.
According to Thai News Agency, Mr. Kritsada Prasertsukho, Managing Director of GGC, emphasized the company’s dedication to transparency and good governance, aiming to protect the interests of investors and all involved parties. As of March 2025, notable developments in the civil and criminal cases include:
Civil Case: On March 24, 2025, the Civil Court ruled to dismiss the lawsuit against GGC by a business partner over a breach of a palm oil purchase contract, which demanded 109.42 million baht in damages. Consequently, GGC is not liable for any damages.
Criminal Case: On March 25, 2025, the Criminal Court delivered verdicts on the case filed by the Securities and Exchange Commission (SEC) against former GGC executives and business partners, finding them guilty of fraud under the Criminal Code and/or offenses under the Securities and Exchange Act B.E. 2535. Sentences included 2 years in prison for one former GGC executive and 1 year and 4 months for a business partner director, to be served consecutively from a prior case. Another former executive received a 2-year prison sentence without suspension.
In summary, of the 6 civil cases against GGC, the court has ruled in the company’s favor in 5 cases. In 5 civil suits filed by GGC against former executives and partners, the court has ruled in favor of GGC in all cases, with 4 cases reaching a final verdict and a total damage value exceeding 800 million baht. GGC is actively pursuing the recovery of these damages.
For the 8 criminal cases where the SEC has accused and GGC has filed complaints, 4 cases remain under investigation, 1 case is with the public prosecutor, and 3 have been adjudicated by the court of first instance. In 2 of these cases, the court found former executives and partners guilty of fraud and/or securities violations, resulting in sentences of 4 years for one former executive and 2 years and 8 months for a partner director. Another executive received a 2-year sentence. In a separate case, the court dismissed charges due to reasonable doubt, but GGC has appealed the decision.