Lankapage Logo Recent Top Stories
CP 14 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Court appoints liquidator for Touchwood Investments
Wed, Jun 18, 2014, 09:01 pm SL Time, ColomboPage News Desk, Sri Lanka.

June 18, Colombo: Colombo Commercial High Court has appointed a liquidator for the troubled investment firm Touchwood Investments PLC.

G.K.S. Kumar, the court appointed liquidator for the Touchwood Investments, in a disclosure to the Colombo Stock Exchange (CSE) announced Wednesday that he will take into his custody all the property and things in action to which the Company is or appears to be entitled.

The official address of the liquidator was announced as 3rd Floor, Yathama Building, No. 142, Galle Road, Colombo 3.

The Touchwood Investments PLC was wound up following an order issued by the Commercial High Court appointing a liquidator from June 5. The order was issued according to the Section 290 of the Companies Act.

Touchwood, which managed a forestry investment scheme where investors were promised high returns from teak, mahogany and other plantations, has been in financial trouble for some time.

A group of angry investors called Touchwood Forestry Owners group, who have not been able to recover their investments, has brought the company to the attention of the authorities.

In March, the Securities and Exchange Commission of Sri Lanka (SEC) ordered the immediate suspension of the trading of Touchwood Investments shares at the CSE. The SEC last year decided to launch a fully-fledged investigation into the conduct of Touchwood Investments.

** Related Story :: Sri Lanka SEC suspends Touchwood Investments trading

ColomboPage - Recent 10 Stories
Court orders joint opposition to limit march to one lane in Kegalle city
-- [5 hours ago]
Sri Lanka Cricket expands its support arsenal
-- [6 hours ago]
New USAID Mission Director signals surge in U.S. development assistance in Sri Lanka
-- [7 hours ago]
Released Indian fishermen allege they were abused while in Sri Lankan jails
-- [7 hours ago]
Joint Opposition protest march is a 'political gimmick by bunch of crooks' - Minister Sagala Ratnayake
-- [8 hours ago]
Japan agrees to fund Sri Lanka's light rail system proposed in megapolis development plan
-- [8 hours ago]
Shortage of human resources is the main challenge for Sri Lanka's Health Sector
Sri Lanka Supreme Court rejects MP Wimal Weerawansa's petition
President briefs Canada's Foreign Minister on Sri Lanka's progress on good governance, reconciliation and development
Masterful Kusal Mendis steers Sri Lanka ahead

Copyright © 2000, 2014 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.