Bankruptcy court to rule on Saha Farms | Bangkok Post: business

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Bankruptcy court to rule on Saha Farms

Ailing poultry supplier owes 360 million baht

  • Published: | Viewed: 1,780 | Comments: 0
  • Newspaper section: Business
  • Writer: Sriwipa Siripunyawit & Phusadee Arunmas
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Chicken farmers under contract with cash-strapped Saha Farms yesterday submitted a letter to Krungthai Bank (KTB) asking for the bank to allow the company to pay them ahead of creditor banks, saying that they were heavily indebted after two years of overdue payments, said Wasana Nakdiloc, a representative of the Chicken Action Network. 

Saha Farms owes a combined 360 million baht to some 500 farmers in 18 provinces.

The latest action by chicken farmers followed a muted response to their request at a recent meeting of their representatives, Saha Farms, Ernst & Young and KTB.

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