NCL Avoids Paying 23 Million Baht as Supreme Court Rejects Plaintiff's Appeal in Neotech Case

Kaohoon··TH·Read original
2▲1 ▼0Impact / 5
Summary · why it matters

NCL International Logistics Public Company Limited, or NCL, informed the Stock Exchange of Thailand that the Supreme Court has issued an order not to accept the appeal of Neotech Plywood Company Limited as plaintiff, bringing the case to an end and leaving NCL with no liability under the claim. In this case, the Court of First Instance ruled on 5 September 2023 that all three defendants, namely Amanah Logistics Limited Partnership, Mrs. Sarita Aedech, and NCL, jointly deliver the original bills of lading and jointly pay principal plus interest totaling 23.07 million baht. Later, on 19 November 2024, the Court of Appeal amended the ruling to dismiss the case against NCL, and most recently the Supreme Court issued an order dated 5 May 2026 not permitting the plaintiff to appeal, dismissing the petition, and not accepting the appeal, with 24 September 2026 set as the date to hear the Supreme Court's order. Previously, the company had set aside a provision of 23.07 million baht for the case, and it is currently considering the accounting impact of reversing the related provision together with its auditor so that the accounting records comply with the relevant financial reporting standards.

Impact on assets 1

Aging Population▲

Off-coverage companies 2

Neotech Plywood Co., Ltd.i
Private▼ NegativeRegulationrelevance

Neotech Plywood, the plaintiff, had its appeal rejected by the Supreme Court, ending its claim against NCL.

Amanah Logistics Limited Partnershipi
Private± Mixedrelevance