Court wants more time to study Thai Petrochemical Industry plan.

Byline: Busrin Treerapongpichit

Nov. 2--The Central Bankruptcy Court yesterday postponed its ruling on Thai Petrochemical Industry's debt restructuring plan to Nov 10, saying the judges needed more time to consider the various petitions in the case.

The $2.7-billion restructuring plan, drafted by a team appointed by the Finance Ministry, was approved by creditors last month and was to be reviewed by the court yesterday.

The plan aims to wipe out accumulated losses, restructure debt and raise new capital through share placements with new investors, including PTT Plc, the Government Pension Fund and the Vayupak Fund.

Around 200 TPI employees …