Category: Legal

Mar 23, 2009 (LBO) – Sri Lanka’s Supreme Court has halted the sale of assets of Ceylinco Consolidated, an apex firm of the Ceylinco group, a collapsed credit card firm and the personal assets of the firm’s directors, lawyers said. Depositors’ lawyers, together with Sri Lanka’s attorney general’s office were due to present a repayment […]

Mar 17, 2009 (LBO) – A new Sri Lankan national audit bill expected to be presented for legislative approval shortly will grant the government’s chief audit officer and his department greater autonomy, officials said. It will increase the powers of the Auditor General’s (AG) Department to clean up government departments with weak internal controls that […]

WASHINGTON, March 11, 2009 (AFP) – Cricket mogul and financier Allen Stanford is refusing to cooperate with authorities investigating his role in an alleged multibillion-dollar fraud, court documents showed Wednesday. The Texas magnate who faces civil charges linked to luring investors into 9.2 billion dollars in securities under fraudulent pretenses, is using his constitutional guarantee […]

March 11, 2009 (LBO) – Sri Lanka’s Ceylinco group chairman Lalith Kotelawala remained in remand over fraud charges at an unlisted subsidiary that has collapsed with a court Wednesday also ordering a halt to any sale of the firm’s assets.The Ceylinco group has put on sale several of its subsidiaries and properties to raise funds […]

TOKYO, January 30, 2009 (AFP) – The number of asylum seekers in Japan doubled last year amid turmoil in Myanmar but only a small number of them were granted refugee status, government figures showed Friday. By comparison, the United States resettles up to 50,000 refugees a year. Japan imposes tight restrictions on immigration and has […]

Jan 23, 2009 (LBO) – Sri Lanka’s lawyers are hosting an ICT law conference in Colombo next week, to debate emerging legal issues with the heavy use of information technology (ICT), its organizers said. Intellectual Property and Information Technology (IT), Legal issues arising out of outsourcing software development contracts, Telecommunication and legal implication on Mobile […]

Jan 22, 2009 (LBO) – Sri Lanka’s top markets regulator has said an accounting and auditing watchdog body was severely understaffed and lacked the ability to do its job effectively.Channa de Silva, director general, of the Securities and Exchange Commission, said the lack of staff at the watchdog body was one reason it could not […]

Dec 15, 2008 (LBO) – Sri Lanka’s Supreme Court barred a senior official from a state-run petroleum retailer over a case involving derivative deals and said the country’s central bank has to probe and solve the case. Supreme Court asked the central bank to file a preliminary probe report brought to court Monday, with the […]

Dec 03, 2008 (LBO) – An imprisoned Sri Lankan journalist, who faces a lengthy jail term for expressing his views, if convicted, has been nominated for a media freedom award by media watchdog Reporters Without Borders (RSF). To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 RSF said […]

Nov 19, 2008 (LBO) – Several Sri Lankan government institutions are scrambling to get land in a government property near the capital Colombo whose ownership reverted back to the state on a recent court order, a senior official said Court had ordered how the land could be used for its original flood retention purposes. Ramanujam […]

Nov 14, 2008 (LBO) – Sri Lanka’s Supreme Court has suspended new broadcasting regulations brought through a gazette notice, after TV stations and journalists sought relief, lawyers said. Supreme Court justice Shirani Tilakawardane had also suggested that state TV stations share its towers with private stations for a fee. Sri Lanka’s Free Media Movement, a […]

Nov 04, 2008 (LBO) – Sri Lanka’s central bank said it has ordered four unlicensed finance companies that failed to register with the regulator to repay depositors, and given time for two more to comply with its rules. A bank statement said four of six organisations and individuals carrying on finance business without authority had […]