News Release

Acknowledgement for the Current Situation on Group Lease PCL (Continuous Disclosure)

Sep 29, 2020
J Trust Co., Ltd.

						

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J Trust Co., Ltd. (hereinafter, “the Company”) has continuously disclosed information regarding Group Lease PCL (hereinafter, “GL”) and would like to make a further announcement on subsequent events as follows: - The developments in Thailand: JTRUST ASIA PTE. LTD. (hereinafter, “JTA”) filed the business reorganization petition against GL. The progress of this case is as follows:  
Date Progress
January 10, 2018 JTA filed the business reorganization petition against GL.
March 19, 2018 The Central Bankruptcy Court, without conducting any hearings, dismissed the business reorganization petition.
April 17, 2018 JTA submitted the appeal to the Central Bankruptcy Court because JTA disagrees with the Court's issuance of decision without conducting hearings.
February 26, 2019 The Central Bankruptcy Court read out the judgment of the Court of Appeal for Specialized Cases to all parties. The Court of Appeal for Specialized Case ruled that the order of the Central Bankruptcy Court dated March 19, 2018 is overturned due to the reason that the Court shall conduct the hearings on the reorganization petition before rendering any order. As a result, the business reorganization petition was returned to the consideration of the Central Bankruptcy Court.
August 15, 2019 After the hearings, the Central Bankruptcy Court dismissed the business reorganization petition.
November 26, 2019 JTA submitted the appeal against the decision of the Central Bankruptcy Court.
September 29, 2020 The Central Bankruptcy Court read out the judgment of the Court of Appeal for Specialized Case to JTA and GL in which the Court of Appeal for Specialized Cases dismissed the petition.
JTA is now considering if it will further submit a petition to request for a permission to appeal against the Court of Appeal for Specialized Cases’s order to the Supreme Court. We will make further disclosure as soon as any further development occurs.

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J Trust Co., Ltd. Finance Department