BOT suing Rerngchai for losses

THAILAND - The Bank of Thailand plans to sue former central-bank governor Rerngchai Marakanond for damages involving the failed defence of the baht that resulted in massive losses, the central-bank's chief said yesterday, Monday.

MR Pridiyathorn Devakula said that the central bank would launch civil proceedings against Rerngchai through public prosecutors.

The bank is unable to invoke a special law that allows the governor to order confiscation of the assets of any bank official found to have c