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35.2.2 Subsidiaries
35.2.2.1 During 2009, the subsidiary was claimed in
a civil lawsuit, as joint defendant together with other individuals
and juristic persons/entities, for alleged wrongful acts.
On 22 December 2015 the supreme court ordered
the subsidiary and related parties to jointly return shares
to the plaintiff; or if such return is not possible, to pay
to the plaintiff the share price at the amount equal to
the trading price of such shares on the date of payment,
plus dividend which the plaintiff should have received,
totaling Baht 318.68 million. As at 31 December 2015,
the subsidiary and related parties were processing
according to the judgment of the supreme court.
The Group has insurance coverage for professional
liability (Financial Institutional Professional Indemnity
Insurance), which covers liability for this case. The
insurance company has confirmed responsibility for the restitution
amount of Baht 106.23 million. The subsidiary did not record
any potential loss in the financial statement for the year ended
31 December 2015 and 2014.
35.2.2.2 On 6 January 2014, the subsidiary was
claimed in a civil lawsuit as joint defendant, together with
other individuals and juristic persons/entities, related to
the performance of certain investment consultants from
member which caused damage to the plaintiff. The plaintiff
was seeking that alleged damages be jointly responsible for
compensation totalling Baht 0.96 million.
As at 31 December 2015, the case was under the
consideration of the supreme court. The outcome of the case
had not been finalised. Therefore, the subsidiary did not record
any potential loss in the financial statements for the year ended
31 December 2015 and 2014.
35.2.2.3 On 30 April 2015, the subsidiary and its
employee were claimed in a civil lawsuit as joint defendants,
together with juristic entities, related to performance of duties
of the subsidiary’s employee which caused damage to the
plaintiff. The plaintiff was seeking that alleged damages be
jointly responsible for compensation totalling Baht 1.48 million.
As at 31 December 2015, the case was under the
consideration of the civil court. The outcome of the case had
not been finalised. Therefore, the subsidiary did not record any
potential loss in the financial statements for the year ended
31 December 2015.