Lack of Liquidity Threatens All Inspire Development’s Bondholders
July 4, 2023
All Inspire Development Public Company Limited (ALL), a prominent real estate developer, is facing a dire financial predicament as it struggles with a lack of liquidity. This unfortunate situation has resulted in the failure to pay interest on its debentures, specifically the ALL244A bonds, which were scheduled to mature on April 21, 2024.
On July 3, 2023, Mr. Thanakorn Thanawarit, the esteemed Chief Executive Officer and Authorized Director of ALL, confirmed that the company was unable to fulfill its obligation of paying interest amounting to a staggering 10,535,719.92 baht. This unfortunate turn of events has left a total of 573 bondholders, who invested in ALL’s debentures, in a state of financial uncertainty.
The primary reason for this liquidity crisis is the company’s insufficient cash flow. As a result, ALL has found itself unable to meet its financial obligations, causing great concern amongst its stakeholders.
The outstanding value of these unredeemed ALL244A debentures is a staggering 709,900,000 baht, with an interest rate of 7% per annum. The Bank of Ayudhya, acting as the representative of the debentures, is overseeing this distressing situation.
EVERYONE IS busy! Lack of liquidity, notification of non-payment of interest for another 1 bond, worth 10.53 million baht, a total of 573 victims, the value of unpurchased bonds is 709.90 million baht.
On July 4, 2023, Mr. Thanakorn Thanawarit, Chief Executive Officer and Authorized Director of All Inspire Development Public Company Limited (ALL), to the UDG that The company’s guaranteed debentures maturing on April 21, 2024, or ALL244A debentures, have failed to pay interest on debentures in the amount of 10,535,719.92 baht on July 3, 2023, with a total of 573 debenture holders.
The cause of the illiquidity is that the company lacks liquidity. There is not enough cash flow.
The amount of unredeemed debentures is 709,900,000 baht, interest rate is 7% per annum, with Bank of Ayudhya. as representative of debentures
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