From last October to June the Legal Execution Department (LED) sold 103 billion baht worth of disputed property that was seized after litigation.
This accounted for nearly 94% of the value of all the property liable for enforcement during those nine months, LED director-general Ruenvadee Suwanmongkol said on Tuesday.
Debtors' assets can be sold off to repay what they owe to either their creditor or the winning party in their dispute.
Referring to the third quarter of the fiscal year from April to June, she said sales of assets worth 35.8 billion baht were driven back into the economy, up about 8% from a year earlier.
Ms Ruenvadee said 8,382 disputes were successfully resolved in that quarter. They involved a total of 2.1 billion baht worth of assets.
Over the nine-month period, 18,129 disputes were settled -- with property worth 5.57 billion baht sold off, she said.
This accounted for 87.7% of all the cases which had come under dispute resettlement process.
Meanwhile, Ms Ruenvadee said Deputy Prime Minister and Justice Minister Prajin Juntong has instructed the LED to ensure justice for Wipha Banyen, a female school director in Kamphaeng Phet province.
The woman was liable to have her assets seized as she acted as a guarantor for 60 students seeking loans under the Student Loan Fund (SLF). At least 21 have failed to repay their debts.
Ms Wipha held a press conference on July 24 during which she relayed her plight and asked government agencies to help her get out of debt she did not cause.
The SLF said later it had deferred seizing Ms Wipha's assets.
Ms Ruenvadee said that the seizure of guarantors' properties in the event that borrowers cannot be contacted is stipulated under the old law in connection with the SLF.
Under the new, recently enacted law, the SLF requires the government agencies and private operators to have the salaries of debtors who work for them deducted to repay their debts, she said. Accordingly, the SLF must give priority to calling on the debtors to repay debts.
