I quote from the current article from the Phuket Gazette 9-15,2011 - Low-down on offshore vehicles:
"It has become popular for property investors to acquire interest in land or property in Thailand under the name of an offshore company."

Of course the death nail of flouting the previously existing law, prohibiting the setting up of sham Thai companies with nominee shareholders but completely controlled by the "minority" foreign shareholders, was officially dusted down on 25th May 2006. And since then rigorously enforced.
Then the very expensive option of forming extra terrestrial offshore companies with foreign nominee shareholders, to purchase land and property gained favour.
The sole purpose of doing this is to circumvent these existing Thai laws, governing the ownership of land and property in the names of foreigners.
If this does not break the letter of the law, I certainly feel that it goes against the spirit of any existing laws on the subject.
So my questions are these:

1) Has there been any tests cases concerning the validity of such an offshore arrangement?
2) If so how long did they take, including any appeals?
3) Even though there is not a law of precedent in Thailand, what was the final verdict?