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::

* Sri Lanka's troubled investment firm Touchwood appeals against liquidation
Thu, Jun 26, 2014, 12:33 am SL Time, ColomboPage News Desk, Sri Lanka.

June 25, Colombo: Sri Lanka's troubled investment firm Touchwood Investments has filed an appeal in the Supreme Court against a lower court's decision to liquidate the firm.

Colombo Commercial High Court on 05 June gave a judgment to wound up the Touchwood Investments PLC and appointed a liquidator.

The court appointed G.K. Sudath Kumar as the liquidator for the Touchwood Investments and in a disclosure to the Colombo Stock Exchange (CSE) on 19 June Sudath Kumar announced that he will take into his custody all the property and things in action to which the Company is or appears to be entitled.

Touchwood on 23 June has filed a notice of appeal in the Supreme Court against the Colombo Commercial High Court's judgment given against the firm to liquidate.

President's Counsel Nihal Fernando will appear for Touchwood Investments, PLC in the Supreme Court while Mr. Sanath Wijayawardena is the new instructing attorney for the fir, Touchwood said in a stock market disclosure.

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.

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 :: Court appoints liquidator for Touchwood Investments

ColomboPage - Recent 10 Stories
Sri Lanka national carrier receives first of six new A330-300 on order
-- [19 minutes ago]
New mission chiefs to Sri Lanka express condolences on Koslanda landslide
-- [46 minutes ago]
Catholic Church of Sri Lanka rejects reports of president influencing the church to stop papal visit
-- [1 hour and 26 minutes ago]
Madhu Road - Thiruketheeswaram sector of Sri Lanka's Northern Railway line tested
-- [2 hours ago]
Pakistan offers assistance to the Sri Lankan landslide victims
-- [3 hours ago]
Coalition party of Sri Lanka's ruling alliance to abstain from voting for the budget
-- [3 hours ago]
Sri Lanka Opposition Leader visits landslide affected village
-- [4 hours ago]
United States offers Sri Lanka immediate assistance for disaster relief
-- [4 hours ago]
Sri Lanka inflation drops to 1.6 percent in October 2014
-- [5 hours ago]
Sri Lanka landslide: UN saddened by the human loss

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.