Originally Posted by
warakorn
The questions arises for refunds for tickets starting in the EU/CH/UK/EEA.
EC261/2004 stipulates that the carrier must issue a cash refund if requested by the passenger.
A passenger may receive a court enforcement title through a EU/CH/UK/EEA court. The bailiff does not have to conduct research into Thai bankcruptcy law. Hence, any assets of Thai within the EU/CH/UK/EEA may still be seized to satisfy refund claims, that could include credit card/acquirer accounts in EU/CH/UK/EEA that Thai owns in in order to receive payments. Moreover, Thai claims against OTA/TAs can be seized, as well.
This could become ugly, because they must be 10,000s of passengers with EU/CH/UK/EEA-departing tickets, which were cancelled by Thai. A credit card/acquirer account that is frozen due to a court order is basically cutting Thai off from cash income from the EU/CH/UK/EEA.
This is not a new issue and it has been dealt with many times. You are simply wrong, although you have raised it before.
If sued, TG will simply file a notice that it is in administration. EC 261/2004 very much applies, but one is an unsecured creditor and the Regulation does not act to circumvent bankruptcy.
Indeed, there are many courts where it is considered contempt to file an action against an entity which one knows to be in administration without notifying the court.
You may also be assured that if local officials started to seize assets, there would be immediate action by the administrator as her job is to administer assets according to bankruptcy law and not to favor one person over another,.