NEW NORDIC DEVELOPMENT AUGUST 22 | Advice to customers

To: All New Nordic Development Co Ltd Customers

On Wednesday, July 27, 2022, we told you of the decision of the Central Bankruptcy Court of Thailand to refuse the application of New Nordic Development Co Ltd to enter Business Reorganisation. We also said that this decision was not expected.

We said at that time that we must wait for the full transcript of the judgement and once we receive it we would be discussing with our legal advisors the options available to the company, including a right to appeal the judgement.

It is normal for the Court to issue the written transcript within 7 to 14 days from the date of the Court’s order. We were hoping that this would have been issued last week, however we wish to advise that by Friday, the Court had not yet issued the written transcript.

We will advise customers further as soon as the Court order is issued and when our review process will start.

In the meantime, NND has returned to its state prior to the application and will continue as “business as usual”.

Please refer to separate newsletters for updates on other companies.