Page 48 - BAM ONE REPORT 2565 (ENGLISH VERSION)

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After the court issues a ruling, whether for the case where the Company is the original plaintiff or the case where
the Company assumes the right as a creditor, under the court’s ruling, and after the Company enforces the debt and
foreclose on any collateral, the collateral will be put on sale by public auction for repayment of debt in which the Company
typically participate.

In case the Company is a plaintiff or the court allows the Company to be subrogated to the right of the judgment
creditor, the Company will join the auction as a person to deduct receivables, and if winning the bidding, the legal execution
Bangkok Commercial Asset Management Public Co., Ltd.
officer will make a report of receivables deduction to the Company to realize whether, as the property buyer with rights
to deduct receivables, additional payment shall be made. The legal execution officer will send a warrant to the Company
to receive the right document for registration of the purchased property’s ownership, and make additional payment (if any)
(in case of payment on the agreement date not adequate to payment of expenses). The Company will receive the right
document to register accepting the purchased property’s ownership transfer. After that, the legal execution officer will make
a statement of revenue-expense delivered to stakeholders to show the list of expenses and inform debt cause on the basis
of remaining right (remaining debts according to the judgment). Nevertheless, if the auction price is more than remaining
debts, the plaintiff or the creditor by judgment has right to receive debt settlement from the legal execution as the court
has judgment for winning the case.

However, if the Company is not allowed to be subrogated to the right as the creditor by judgment or mortgagee
creditor, the Company needs to join the auction as a third party. If winning the auction, the Company needs to make
payment at price as the Company bids along with other expenses, and then receives the right document as well as relevant
documents for registration of the ownership transfer acceptance. However, the Legal Execution Department will reimburse
amount that the Company makes advance payment when bidding to purchase the properties to the Company after the
Company finishes exercising such right.

In case a third party wins the auction, the Company may request payment from the auction provided that the
Company shall prepare related documents as well as a copy of court order for right exercising, submitted to the Legal Execution
Department to make the statement of revenue-expense (“Revenue-expense statement”). The Legal Execution Department
may consider requesting the Company to deliver additional documents before submitting the revenue-expense statement.
When the Company receives payment, the particulars of receivable from auctioning will be reversed.

However, the period for submitting the revenue-expense statement of the legal Execution Department depends on various
factors. For example, if a request is submitted for the cancellation of the auction, or there is any objection to cash receiving
a payment account, the Legal Execution Department shall wait for the final decision of the court in such case before
providing the revenue-expense statement to the Company. If a debtor is prosecuted in a bankruptcy case, the payment
receipt system of the Company may be delayed as the Legal Execution Department needs to wait for the Bankruptcy Court
to proceed in the bankruptcy case completely according to such case first. The Legal Execution Department thus can start providing
revenue-expense statement for the Company. Nevertheless, the Company has a process to follow up the receivables from
auctioning continuously by providing the registration of the receivables from auctioning with regular tracking system.

Also, the minimum repayment the Company able to recover from the collateral in an auction side is the lowest of
(a) the auction price (less expenses), (b) the original mortgage value that the amount secured by the collateral under
the mortgage agreement (that can be higher or lower than the outstanding amount of the debt and/ or the auction price),
and (c) the outstanding amount of debt payable regarding the claim.