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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