Exorcising Bangkok’s skyline

Posted on September 9, 2007 by admin
Exorcising Bangkok's skyline - Asia Property Report, September, 2007
...This led to an ugly chain of events. Because many of the original lenders had shut their doors, the enforcement process of the loans, in terms of the clearance process, took a long time, making it very difficult for the bank to repossess collateral.
“So for a number of years, through to about 2003, the Bangkok skyline was dotted with partially complete buildings, anywhere from just the piling being completed up to the developments that were 90% complete but just had no money left to finish them off,” said Pitchon...
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