Submission for intending to have repayment of debt of bankrupt debtor

Normally, when someone breaks a contract, we can sue him/her/it within prescription. For example, if you buy a unit of condominium and you pay to a seller but it does not transfer ownership to you. You have to sue it within 10 years. However, in the case that it transfers ownership to you and you receive the unit but the room has a defect. You have to sue it within 1 year since you acknowledge or see a defect. In civil cases including consumer cases, after you sue and the court has a judgment, you have to proceed for a judgment execution within 10 years since the court has the judgment. Although in some cases you have 10 years to sue it but you should not ignore your debtor. You should check whether he/she/it goes bankrupt by law. He/she will be sued at the bankruptcy court if he/she owes 1 million baht for a creditor or creditors. In the case that a debtor is a juristic person such as a company, it must owe at least 2 million baht thus it may be sued at the bankruptcy court. If the bankruptcy court has the absolute receivership order and publicizes it, you must request the Receiver to have repayment of debt in a bankruptcy action within two months as from the date of the publication of the absolute receivership order. But if you are not in Thailand, the Receiver may grant an extension of time for a period not exceeding two months.http://web.krisdika.go.th/data//document/ext804/804446_0001.pdf If you do not make a request within 1 or 2 months, you cannot receive the repayment from your debtor and you cannot sue them as well. As a result, you will not get your money back. The debtor may not be bankrupt while he/she/it makes a contract with you but he/she/it may be bankrupt later. Thus, you have to check on the internet about the information of your debtor and search whether the bankruptcy court has any order. Finally do not forget to make the request to the Receiver for your debtor with the absolute receivership order. Nevertheless, in the case that the bankruptcy court does not make any order for your debtor, you can sue them for a civil case with normal prescription.