The case was filed by Hong Kong & Shanghai Banking Corporation, as the Trustee for the holders of Vanik debentures, and Ruhunu Development Bank.
The Colombo stock exchange suspended trading in Vanik on Monday until further notice.
Winding Up
Oct 07, 2008 (LBO) - Sri Lanka's troubled merchant bank Vanik Incorporation said it had been ordered to wind up by the district court of Colombo in a case filed by a foreign and a local bank. The case will be called on November 21, 2008 for further steps, Vanik said in a stock exchange filing.