Thursday, 5 August 2010

Major Ceylinco assets worth over Rs.42 billion to be sold to repay depositors

Major assets of failed Ceylinco companies including the Ceylinco Celestial residencies tower, Kollupitiya ,Trillium Residencies, Celestial Towers .the Pioneer Tower in Fort, and the Ceylinco E.N.T. hospital Narahenpita all valued over Rs. 42.6 billion are to be sold  soon to expedite the repayment of disgruntled depositors on a supreme Court order. A   US Real Estate company, subsidiary of failed Ceylinco Shriram group will also be liquidated and returned  all Ceylinco funds to Sri Lanka . A civil case has been filed at the Columbia Civil Court to liquidate the Ceylinco Real Estate holdings LLC USA which is a subsidiary of  Ceylinco Shriram group, A senior official of the Attorney General’s Department said.

(Source: Sunday Times)

No comments:

Post a Comment