Petition to Bankruptcy Court looksfor to change interest rates and extend payment durations JKN creator and significant investor Jakkaphong “Anne” Jakrajutatip offered almost 100 million shares in the business in September to comply with market guidelines following a high rate drop. (Photo: JKN) Shares of JKN Global Group plunged by almost 30% to a flooring of 0.77 baht on Thursday after the owner of the Miss Universe Organization revealed it had submitted for company rehab with the Central Bankruptcy Court. In a declaration to the Stock Exchange of Thailand, creator and chief executive Jakkaphong “Anne” Jakrajutatip stated JKN had proposed itself as the coordinator of the rehab. The media business hasactually petitioned to change interest rates on existing financialobligation and extend its financialobligation payment duration. JKN, which purchased the Miss Universe Organization for $20 million in October last year, hasactually postponed some payments for its bonds, mentioning international and domestic financial obstacles. The business is lookingfor the personalbankruptcy case even after some financiers in September concurred to extend the payment of due bonds. Ms Jakkaphong stated earlier in September that she had offered almost 100 million shares through “forced offering” to comply with margin accounting guidelines after the business’s share rate dropped by more than 50% in one week. Preliminary standards for the rehab consistof service and monetary restructuring in line with the business’s present monetary presumptions and financial conditions to resolve working capital issues and boost its monetary liquidity, the declaration stated. Under the strategy, JKN would extend the duration of financialobligation payment and waive interest payments to create sufficient earnings from operations to re
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