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Surasak Vajasit

Surasak Vajasit

  • Firm: R&T Asia (Thailand) Limited.
  • Practice Area: International Arbitration
  • Country: Thailand
  • Email: surasak.v@rajahtann.com
  • Thailand Post, CentralWorld, Bangkok, 10330, Thailand

About Surasak Vajasit

Surasak is recognised by The Legal 500 Asia Pacific as a Leading Individual for Corporate and M&A and a Band 1 lawyer for Dispute Resolution by Chambers Asia Pacific, naming him as one who “wins plaudits from the market” and with clients describing him as “one of the best” based on his “reputation on complex matters.” A large part of Surasak’s practice focuses on representation in litigation and dispute resolution proceeding, including arbitrations, Surasak is recognised by The Legal 500 Asia Pacific as a Leading Individual for Corporate and M&A and a Band 1 lawyer for Dispute Resolution by Chambers Asia Pacific, naming him as one who “wins plaudits from the market” and with clients describing him as “one of the best” based on his “reputation on complex matters.” A large part of Surasak’s practice focuses on representation in litigation and dispute resolution proceeding, including arbitrations, mediations and other alternative dispute resolution proceedings. Surasak is also consistently recognised as one of the leading lawyers in Thailand for Restructuring & Insolvency.
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Experience
With more than 31 years of work in the private and public sectors, Surasak has extensive experience in corporate and financing transactions, including privatisations, securities transactions (public issues of debt and equity), loan facilities, project finance, restructuring and bankruptcy-related work. He represents some of Thailand’s state enterprise banks and other financial institutions and a number of publicly-traded companies. Additionally, he has been involved in some of Thailand’s most important infrastructure projects including, expressways, railways, tollways, waterworks and telecommunications projects. He also represents several multinational clients in complex Thai regulatory matters, particularly those involving customs and anti-corruption proceedings.
Surasak served for eight years as a judge of the Courts of Thailand.
His experience includes:
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Litigation and Arbitration
– Represented a large oil and gas exploration company and its subsidiary in arbitration proceedings in relation to a dispute under the ICC Rules of Arbitration, in Bangkok, Thailand.
– Represented a vegetable oil manufacturer in connection with alleged tort claims arising from its factory operation.
– Represented a household appliances company in a dispute concerning a distributor agreement.
– Acted as Thai counsel for a Japanese tobacco company in a dispute concerning a distributor agreement.
– Represented an individual in a divorce dispute.
– Acted as the Sole Arbitrator in arbitration proceedings under the ICC Rules of Arbitration in relation to a dispute under a purchase contract between a distributor of cement, ready mixed concrete and construction materials and a construction company.
– Acted as a Co-arbitrator in an SIAC Arbitration in the matter of an arbitration under the Uncitral Arbitration Rules in a dispute between two entertainment companies.
– Acted as Thai counsel in an arbitration proceeding related to a contractual dispute between a major Thai shareholder of a Thai listed company and a German construction company in Singapore.
– Acted as Thai counsel to a Thai listed company in an arbitration proceeding filed against it by a European construction consortium involving deferred payment facility debt and other related debt under construction contracts.
– Acted as Chairman of a three-member arbitral tribunal in an arbitration proceeding between a Thai government agency and a construction consortium.
– Acted as Thai law expert for an Austrian conglomerate in connection with an arbitration proceeding with a Thai government agency.
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Banking and Finance
– Advised a major Thai bank on: (1) THB 20 billion financing of a leasing company listed on the Stock Exchange of Thailand; and (2) THB 12.5 billion financing of an oil refinery company listed on the Stock Exchange of Thailand.
– Advised a syndicate of Thai banks in the provision of finance to Thai Petroleum Pipeline Company Limited.
– Advised Thai financial institutions in connection with: (1) the financing of the Pathum Thani water project; (2) the financing for the construction of tollways by Don Muang Tollway Public Company Limited; (3) the financing of the Rayong power plant; and (4) the financing of the Kanom power plant.
– Acted as Thai special counsel to an investment unit of the World Bank in connection with the financing of the Bangkok Mass Transit System.
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Securities
– Acted as the bond issuer’s legal counsel on the issuance of THB 7 billion senior unsecured bonds issued by Don Muang Tollway PCL.
– Advised a European telecommunications company on the structuring and acquisition of major stakes in a major telecommunications company in Thailand, including advising on the mandatory tender offers.
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Insolvency and Restructuring
– Advised an investment unit of the World Bank on the reorganization proceedings of Thai Petrochemical Industry PCL.
– Advised certain creditors in connection with the reorganization of Bangkok Mass Transit Public Company Limited, an operator of a rail-based mass transit system in Bangkok.
– Advised certain creditors in connection with the reorganization of TT&T Public Company Limited, a major telecommunications company in Thailand.
– Represented a state-owned financial institution as seller in the THB 8.2 billion sale of its non-performing loan (NPL) portfolio to Sukhumvit Asset Management.
– Advised the lenders on the debt restructuring of Don Muang Tollway PCL.
– Advised the lenders on the debt restructuring of Thai Wah PCL.
– Advised the lenders on the debt restructuring of STA Group (1993) PCL, STA Particle Product Company Limited, STA MDF Company Limited, STA Furniture Group Company Limited, and STA Para Plywood Company Limited.
– Advised a Thai bank on the debt restructuring of Narong Canning Company Limited and ISA Company Limited.
– Advised the lenders on the debt restructuring of Unicord PCL.
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Regulatory
– Represented a U.S. tobacco company with regulatory compliance in its business operations.
– Represented a NYSE listed alcoholic beverages company with regulatory compliance in its business operations.
– Represented various local and multinational corporations on telecommunications issues under Thai law.
– Acted as legal counsel to the regulatory agency in relation to the preparation of the Request for Proposal for the 2013 IPP bid solicitation.
– Acted as legal counsel to a government department in connection with the proposed revisions of relevant laws and regulations to allow for the public-private partnership for public infrastructures in Thailand.
– Advised a NYSE listed alcoholic beverages company on customs valuation disputes, as well as its settlement of a dispute with Thai Customs.
– Advised a Japanese pharmaceutical company on its importation and licensing of pharmaceutical products.
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Memberships / Directorships
– Member, Lincoln’s Inn, London
– Member, Drafting Committee Business Reorganization Act
– Member, Law Reform Committee of the Judicial Council in relation to law relating to partnership, company and business unit.
– Member, Extraordinary Committee drafting the Constitutional Law
– Member, Sub-Committee of the Electronic Transactions Commission studying a new law relating to electronic transactions
– Legal Sub-Committee of the Stock Exchange of Thailand (1 Jan 2017 – present)
– Independent Director and Chairman of Nomination and Corporate Governance Committee of a listed telecommunication company
– Member, Policy and Strategic Planning Subcommittee of the Thailand Arbitration Center (THAC) (22 Jun 2018 – present)
– Independent Director and Chairman of the Nomination and Remuneration Committee of an insurance company
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Publications
– Co-author, Partnership and Company Law, 11th Edition, January 2009

Q&A With Surasak Vajasit

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