Rerngchai: 'Did not commit recklessness'Former central bank governor Rerngchai Marakanond has been cleared by the Supreme Court in a decade-long battle involving the loss of 186 billion baht just before the 1997 economic crisis. The Supreme Court yesterday upheld the Appeal Court's ruling to clear Mr Rerngchai from civil penalties. The Appeal Court in 2010 overturned a lower court ruling that imposed penalties of 185.95 billion baht on Mr Rerngchai. Noppadon Laothong, a lawyer for Mr Rerngchai, said he would discuss with his client if he would file a counter-lawsuit against anyone. The Bangkok of Thailand's Exchange Equalisation Fund filed a case in 2001 charging Mr Rerngchai with gross negligence under the 1996 Tort Liability Act.

Source: Bangkok Post October 06, 2016 00:00 UTC