Issue of determinable debt of Bankruptcy Act B.E.2483 : Case study on the judgement Nisi debt.

Abstract

In bankruptcy lawsuit, the debt in which both debtor and creditor held was the significant terms of bankruptcy cases. According to Bankruptcy Act. B.E.2483 article 9 the amount of debt to determine whether the debtor was insolvent or not depended on the determinable debt. The debt must be determinable whether it was due or not as well as the judgement debt. The Judgement must be final before the bankruptcy lawsuit. By using Res Judicata at the time of the lawsuit might have a negative effect on the debtor if the judgement was overturn in the higher court, causing the loss of the certain debt or making the determinable amount insufficient to file for bankruptcy. Hence, there was the need of the specific and clear rule to determine the debt. In case the creditor uses the judgement debt to file a lawsuit, the judgement used must be final, in order to prevent damages which may negatively affect the debtor in the future.