The two collided last week to inflict the biggest default on Thai bankers since the Asian financial crisis.
Sahaviriya Steel Industries Plc, the Bangkok-based operator of Southeast Asia's largest flat-steel manufacturing complex, reneged on 50 billion baht ($1.4 billion) of loans Monday following the failure of its four-year old UK venture. The group said it was suspending production at the Teesside plant, which employs about 2,000 people, amid a drop in prices and a supply glut stemming from slowing economic growth in China.