Kudun and Partners is a young and energetic full-service firm that has grown rapidly in the past few years, pulling in talent from competitors and being hailed as a firm to watch by peers. The firm has established a dedicated China practice staffed with native Chinese speakers and it is now part of the legal network World Services Group, as the Thailand representative. Partner and key contact Kudun Sukhumananda has expertise in capital markets, corporate and M&A, banking and finance, real estate, infrastructure funds and energy. The firm strengthened its corporate and M&A practice with the hire of senior associate Bongkotkan Chumsai Na Ayudhya from KWI Public Company Limited, where she served as group legal director. Partner Saravut Krailadsiri departed for Tilleke & Gibbins tax practice, while partner Kongkoch Yongsavasdikul and senior associate Supatra Kerinsaguna moved to TTT + Partners corporate and M&A practice in October 2024.
Work highlights
Successfully represented FS International, Italy's state-owned railway company, in securing a $2.9 million settlement in a construction dispute before the Thai courts. The case involved complex claims against a major infrastructure consortium of Thai and Chinese companies, highlighting our team's ability to achieve favourable outcomes in cross-border disputes involving state-owned enterprises and major infrastructure projects in southeast Asia.
Representing a major regional energy company in ongoing administrative proceedings before Thailand's Supreme Administrative Court challenging the Agricultural Land Reform Committee's controversial land use compensation requirements for petroleum operations. The case, following an initial dismissal by the Central Administrative Court, contests the legality of duplicate payment obligations affecting petroleum operators in agricultural reform zones. This landmark litigation could fundamentally reshape the regulatory framework for Thailand's energy sector and establish crucial precedents for land use compensation in southeast Asia's resource industry.
Representing a former independent director in Thailand's potentially largest class-action lawsuit, involving Bt4 billion in claims related to alleged false securities sales solicitation. The ongoing litigation challenges our client's liability based on their independent director status and absence of material relationship with the listed company. This precedent-setting case will significantly impact the interpretation of independent director liability and corporate governance standards across southeast Asian capital markets.
Work highlights
Advising Sino-Thai Engineering and Construction on a comprehensive Bt6 billion corporate restructuring involving 14 subsidiaries and associated companies, with the establishment of Stecon Group as the new holding entity. The ongoing reorganisation focuses on implementing tax-efficient structures for share swaps and subsidiary transfers while securing necessary regulatory approvals from Thailand's Revenue Department. This transaction showcases innovative approaches to corporate restructuring within Thailand's construction and engineering sector.
Advising the creditors' committee in Thai Airways' Bt352.49 billion business rehabilitation, representing all creditors in Thailand's largest corporate restructuring. The ongoing mandate involves overseeing implementation of the rehabilitation plan, including recent plan amendments and capital restructuring initiatives aimed at resuming Stock Exchange of Thailand trading by mid-2025. This landmark case represents the most significant aviation sector rehabilitation in southeast Asia, demonstrating complex creditor coordination across multiple jurisdictions while restructuring a state-owned enterprise.
Key clients
4Care Group, Shenzhen Airport Co, Zipmex Thailand and Zipmex Asia
Work highlights
Advising Real D&C (South Korea), Saishin Energy (Japan) and CPT Holding (Thailand) on their Bt469.4 million strategic acquisition of a 52.16% stake in CPT Drives and Power, a Thai-listed electrical equipment distributor. The multi-phase transaction included two successful closings and a mandatory tender offer, with the consortium acquiring an initial 34.41% through targeted big lot transactions at Bt1 per share. The landmark deal represents a pioneering cross-border collaboration in southeast Asia's electrical systems sector, uniting expertise in real-estate development, solar energy and industrial systems.
Advising King Gen on its Bt1.26 billion strategic joint venture with China's Chery Automobile to manufacture and distribute Omoda And Jaecoo vehicles in Thailand. The partnership establishes two dedicated entities – a manufacturing company and a distribution company – with a combined investment exceeding Bt5 billion to create Thailand's newest electric vehicle manufacturing facility. This landmark collaboration represents one of the first Thai-Chinese partnerships in world-class automobile manufacturing.
Key clients
Ignite Venture, SUS Holding, Tiong Woon Corporation Holding
Work highlights
Advising Saha Pathana Inter-Holding (SPI) on its Bt744 million ($22.8 million) acquisition of a 28.61% stake in People's Garment, increasing SPI's total holding to 42.39%. The transaction included a mandatory tender offer which secured an additional 1.26% stake, bringing SPI's final ownership to 43.65%. This strategic investment strengthens SPI's position in Thailand's garment sector while showcasing complex compliance requirements for connected transactions in Thai public company acquisitions.
Advising LTMH Public Company on its Bt250 million initial public offering and secondary board listing in Thailand, with a market capitalisation of Bt1 billion. The media company's shares opened 5% above the IPO price of Bt3.10, reflecting strong market confidence in its multi-platform content strategy across investment and financial domains. This landmark listing demonstrates growing investor appetite for Thailand's digital media sector and positions LTMH for expansion into WealthTech services.
Key clients
Inspire IVF, Interroyal Engineering, MPJ Group
