Seven customers of Touchwood file urgent application

Thursday, 5 February 2015 00:42 -     - {{hitsCtrl.values.hits}}

On 30 January, an urgent application was made to the Commercial High Court of Colombo by seven former customers of Touchwood Investment PLC including JAT Holdings Ltd., into the winding up case of Touchwood Investment PLC (Case No. 31/2014 CO). The said customers had by a previous Motion brought it to the attention of the Commercial High Court on 18 December that their private properties to which they have title to were wrongfully and illegally attempted to be included as part of the assets of Touchwood Investment PLC. Thereafter the said matter was fixed for inquiry for 6 February before the said Commercial High Court. Notwithstanding this, the aforesaid urgent application on 30 January was made on behalf of the said former customers as the Liquidator was attempting to take steps to enter the subject lands owned and possessed by the said parties including JAT Holdings Ltd. Kuvera de Zoysa, President’s Counsel with Attorneys-at-law Nishan Premathiratne and Sashanee De Silva instructed by Peummi Premathiratne appearing on behalf of the said former customers made submissions to court that it had been brought to the notice of the said customers that the Liquidator appointed by Court has taken steps unlawfully lop off the glyricedia plants (host of the sandalwood plantation) on subject lands belonging to the said customers. The President’s Counsel reiterated that the said properties do not form part of the assets of Touchwood Investments PLC and hence the Liquidator has no right whatsoever to pursue with the said mode of conduct which was in gross violation of the proprietary and maintenance rights of the said customers. Furthermore, the Counsel submitted that if the Liquidator and or any of his agents enters the subject properties and commences lopping of the glyricedia plants, grave and irreparable loss and damage would be caused to the entire sandalwood plantation of the said customers. The Commercial High Court Judge hearing extensive submissions made by the said President’s Counsel issued an interim order against the Liquidator and/or his agents from entering the said subject lands and taking any steps on the plantations therein, thus to ensure that the present status quo is to be maintained until this dispute is to be inquired by the said Commercial High Court on 6 February. Due to the grave urgency, Court made appropriate directions to expeditiously inform the Liquidator of the said order by facsimile and telephone. The matter is fixed for inquiry and scheduled to be taken up on 6 February.