The Civil and Commercial Code (CCC) and the Bankruptcy Act cover basic bondholder rights.

The Civil and Commercial Code covers the principles and rules for civil law for business and individuals. Obligations, contracts, mortgage and other forms of loan security fall under the CCC. Liquidation procedures for insolvent debtors are also found in the CCC.

Under the Bankruptcy Act, creditors, including the bondholders, can file a petition with the Bankruptcy Court for a rehabilitation or bankruptcy proceeding against a debtor's business.

Indenture agreements in bond issues can also specify a trustee or bondholder representative. This trustee oversees bondholder rights, including the filing of claims and demand payments from the issuer or guarantors. Bondholders can sue and claim for damages from the trustee in case the trustee acts in bad faith or causes damages to bondholders.

Foreign bondholders have rights similar to Thai bondholders.

Bond documents (e.g., prospectus, term sheets or indenture agreements) may also contain covenants and relevant default clauses specific to the bond issue to provide additional protection for bondholders. The Thai Bond Market Association (ThaiBMA) provides copies of corporate bond prospectuses.

The Asia-Pacific Restructuring and Insolvency Guide 2006 provides information on creditor rights in the Asia-Pacific countries. The link for Thailand is provided below.