Thailand’s Crown Prince will Pay to Retrieve Impounded Aircraft

Thailand’s Crown Prince will Pay to Retrieve Impounded Aircraft

Bangkok, Thailand — Maha Vajiralongkorn, Thailand’s crown prince will pledge 20 million euro or approximately $28.4 million as a bond for the eventual release of his personally-owned Boeing 737 aircraft. The plane was impounded and confiscated by German officials in Munich after the Thai Government was not able to pay the already defunct and bankrupt construction firm in Germany, Walter Bau AG, 20 years ago.

The crown prince is willing to pay the debt in the form of a bond contract payment out from his own personal funds. The crown prince wanted Thailand and Germany to maintain and keep its good diplomatic ties. The aircraft is already one month impounded in Munich and the crown prince is very eager to get back the aircraft. The German court however insisted that the plane can only be released once the bond is actually received with the same exact amount or estimated value of the plane.

The crown prince does not doubt the German judicial process and believes that due process will be served in time. Thailand’s Foreign Ministry however was angered by the turn of events saying that the plane is personally-owned by the crown prince and is not a government entity.

Posted by James Fried on Tuesday August 02 2011, 3:44 AM EST. Ref: Yahoo. All trademarks acknowledged. Filed under World. Comments and Trackbacks closed. Follow responses: RSS 2.0