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GK depositors say Kotelawala must pull them out of the brink

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Jayashantha

Jayashantha
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Disgruntled Golden Key (GK) depositors on Thursday urged President Mahinda Rajapaksa to intervene in persuading former Ceylinco Chief Lalith Kotelawala, the main culprit in the drama, to make a full commitment towards repaying their hard earned money, 64 months after the company crashed.

Around 600 depositors passed a resolution unanimously at a meeting at the Public Library auditorium in Colombo demanding the authorities to cancel the Central Bank (CB)’s action plan as it will not bring benefits for them.

They were of the view that this plan was a conspiracy aimed at tarnishing the image of the president who took a genuine interest and issued directives to the CB to find redress for disgruntled depositors.

Joint conveners of the Alliance of “Voice of Golden Key Depositors for Justice” Jude Marco Perera and Malcolm De Silva told the Business Times that they have decided to bring all GK depositors under one umbrella once again as the CB’s plan of action for the collapsed company will not be able to save a large majority of disgruntled depositors from the misery they are encountering at present.

The three directors representing depositors in the GK Special Purpose Vehicle (SPV) appointed with the consent of the Supreme Court have failed to fulfill their obligations betraying the rights of depositors, Mr. Perera alleged.

http://www.sundaytimes.lk/140511/business-times/gk-depositors-say-kotelawala-must-pull-them-out-of-the-brink-98365.html

D.G.Dayaratne


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Most of depositors of GK supported to remove Sirani B

If you invest your money foolishly No one can help

daminda


Senior Equity Analytic
Senior Equity Analytic

Are they going to sell Ceylinco Insurance employee's shares (CIESOT trust) to recover GK depositor's money?Was this CIESOT trust established using GK depositor's money or CINS PLC's internally generated own money? If this trust was established without using GK depositor's money is it legitimate to sell employee shares to recover their money?

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