Court orders Bangkok and Bangkok Bank to pay BTS debt of 12 billion baht

The Supreme Administrative Court upheld the Central Administrative Court's ruling that the Bangkok Metropolitan Administration (BMA) and Bangkok Bank will jointly pay BTS debts under the contract for the Green Line Extensions 1-2, including interest of 12 billion baht. The Supreme Administrative Court upheld the Central Administrative Court's ruling that the Bangkok Metropolitan Administration (BMA) and Bangkok Bank Public Company Limited (BOT) must jointly pay BTS debts under the contract for the Green Line Extensions 1-2, including 12 billion baht in interest. The court reasoned that the BMA's implementation of the Green Line Extension 1, Saphan Taksin-Bang Wa and On Nut-Bearing Extension 2, Mo Chit-Saphan Mai-Khu Khot and Bearing-Samut Prakan sections, and assigned to Krungthep Thanakom, an enterprise in which the BMA holds 99.98 percent of the shares. Therefore, when Krungthep Thanakom has outstanding debts under the contract for providing operating and maintenance services for the Bangkok Mass Transi t System Project with BTS, both in Extension 1 and Extension 2, the BMA must also be jointly liable for the said debts. - Thai News Agency Source: Thai News Agency