Category: Legal

ZAMBOANGA, June 4, 2009 (AFP) – A Sri Lankan peace activist kidnapped by Islamic militants in the southern Philippines almost four months ago has been safely rescued, police said Thursday. Umar Jaleel was rescued late Wednesday from his Abu Sayyaf captors in the town of Tipo-Tipo on Basilan island, regional police spokesman Superintendent Danilo Bacas […]

June 4, 2009 (LBO) – Sri Lanka’s Supreme Court said a 2003 privatization of Sri Lanka Insurance Corporation (SLIC) to listed Distilleries group was illegal and ordered the shares to be returned to the government and the purchase price refunded. Court also said Ernst & Young, the auditors of the firm should be removed. Court […]

June 01, 2009 (LBO) – Coats Thread Lanka (CTL) says it is battling counterfeiting of its brands by taking legal action against sellers of fakes and taking and has asked retailers to be careful when buying stock. “We have been vigilant and working with the law enforcement authorities to counter this threat by organizing periodic […]

June 01, 2009 (LBO) – Sri Lanka’s Supreme Court has appointed a chief executive, an auctioneer and auditors to the collapsed Golden Key Credit Card Company to liquidate assets and pay back depositors, lawyers said. In another development, Supreme Court has asked Finance and Guarantee Company, a regulated firm, and two related unregulated real estate […]

May 31, 2009 (LBO) – Sri Lanka’s police have raided the offices of state-run Ceylon Petroleum Corporation (CPC) and seized documents related to exotic oil derivatives which went against the utility, a media report said. The Sunday Times newspaper said officers of the criminal investigation department of Sri Lanka’s police had raided the head quarters […]

May 31, 2009 (LBO) – A decision on a case challenging the privatization of Sri Lanka Insurance Corporation (SLIC) is listed for delivery at Sri Lanka’s Supreme Court on June 01, lawyers said. Distilleries Company of Sri Lanka closed at 90.25, down 2.25 rupees Friday. SLIC was sold to the listed Distilleries group of businessman […]

May 29, 2009 (LBO) – Sri Lanka’s justice system, legal profession and media are all under grave threat, said a report published by the International Bar Association’s Human Rights Institute (IBAHRI). Public confidence in the judiciary has got eroded and the Chief Justice is seen as biased, said the report on the independence of the […]

May 20, 2009 (LBO) – A man who ran an illegal Ponzi-style ‘investment’ scheme in Southern Sri Lanka, offering high interest rates until its collapse last year when he failed to repay investors, has been shot dead, police said. Piyadasa Ratnayake, from the southern Sri Lankan township of Hungama was abducted in the early hours […]

April 27, 2009 (LBO) – Sri Lanka’s Supreme Court has ordered a list of assets of the failed Golden Key Credit Card Company and its directors to be filed by May 11, to be seized and sold to repay depositors, lawyers said. Golden Key, a unit of Sri Lanka’s Ceylinco group collapsed in December 2008, […]

LONDON, April 17, 2009 (AFP) – A London court convicted a man described as the head of the Tamil Tigers in Britain on two terror-linked charges Friday, including supplying bomb-making equipment to the Sri Lankan group. Arunachalam Chrishanthakumar, 52, was found guilty of coordinating supplies of material to the Liberation Tigers of Tamil Eelam (LTTE). […]

Mar 31, 2009 (LBO) – Sri Lanka’s Supreme Court has asked Golden Key Credit Card Company, a collapsed financial firm, and its directors to declare assets and for the island’s banking regulator to probe the firm, lawyers said.Depositors also asked the passports of directors to be impounded, saying one director has already left the country […]

Mar 26, 2009 (LBO) – Sri Lanka’s Ceylinco group chief Lalith Kotelawala has offered to provide assets into a trust to repay 14.5 billion rupees to customers of the collapsed Golden Key Credit Card Company, state lawyers told court.Deputy solicitor general Sarath Jayamanne said Thursday depositors were offered a rate lower than the high rates […]