Friend of mine asked me these questions but I could not help him.
Anybody Know? –
What procedures kick in under Thai law when a director of a company dies?
What happens to his share of the company?
Case in point:
Director is a foreigner in a Thai company.
Director has been estranged from his lawful wife for 10 years. No kids.
Wife turns up 2 years after his death with a 30 year old will and wants his share.
Wife is from UK also.
When the director died, (in UK), the company contacted his kin – brother,
and sent his gear back to the UK.
The brother knew of his involvement in the Thai company but did not pursue any claim.
A while after the death of the director the company asked their Thai lawyer what should be done.
His advice was that under Thai law the company has to put a notice in a Thai newspaper for 30 days and request claims and state that the director’s name will be removed from the company documents, which they did.
They feel that there must be more to it than that.
I am told that if the wife was living with him at the time of death or if they where apart but on good terms then the other shareholders would have no problem giving his share to her, but as he was separated for 10 years and, they believe would not want her to have his share, they are reluctant to do this.
Are they being kunts or do they have a point and where do they stand legally?