All Inspire Development Public Company Limited reported a default on debt payment on July 31, 2023. Debentures of the company due to default in total debt exceeding the threshold pursuant to the terms and conditions of the rights and obligations of the debenture issuer and debenture holders (Cross Default). The company defaulted on the repayment of all debentures (7 debentures) in the amount of THB 2,416 million, consisting of the outstanding principals of THB 2,334 million and the accrued interest until the default date of THB 82 million (representing 40% of total assets as of March 31, 2023).

ALL will expedite the sale of its assets and seek a source of funds to repay the debentures. Bank of Ayudhya Public Company Limited, a debenture holders' representative, has called the debenture holders' meeting on August 2, 2023, at 2 p.m. to seek approval from the debenture holders' meeting in order to request the debenture issuer to redeem the debentures or file a lawsuit and enforce the mortgage of the collateral assets of the debenture issuer by proposing a resolution to appoint or authorize the debenture holders' representative to proceed with litigation and execution. Debt of Kiatnakin Phatra Bank Public Company Limited (KKP) totaling THB 264 million.

In case the company fails to repay debt within 30 days after receiving a letter from KKP (July 20, 2023), KKP has the right to take legal action.