BANGKOK – Thailand’s Constitutional Court on Friday (Feb 21) ruled to dissolve Future Forward, the country’s second biggest opposition party, and ban its executives from politics for 10 years over loans from party leader Thanathorn Juangroongruangkit.

The move comes just days before a no-confidence motion in the ruling coalition is due to be debated in Parliament. The debate and vote is scheduled for Feb 24-28.

The third best performer at the March general election last year, Future Forward surprised many by scooping up 81 seats despite none of its candidates having run for office before. Some of these Members of Parliament have since left the party or vacated their seats.

The party is now left with 64 MPs after today’s court decision banned another 11 MPs from politics for 10 years. Mr Thanathorn is amongst those banned.

The party’s remaining MPs have 60 days to seek membership in other parties before their MP status expires.

Mr Thanathorn, a 41-year-old billionaire and scion of Thailand’s biggest autopart manufacturer, issued a series of loans worth 191 million baht (S$8.6 million) to his party last year.

The loan is unprecedented as political parties in Thailand are typically funded by donations from key members and supporters. 

Mr Thanathorn said he lent the money instead of funding the party himself to downplay his tycoon image. The party has since paid him back some of the loan amount.

There are no laws specifically forbidding party leaders, members, or supporters from giving out loans to political parties. However the election laws cap donations from individuals to 10 million baht each. 

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