Touchwood breaks silence, files appeal against liquidation ruling

Thursday, 26 June 2014 00:35 - - {{hitsCtrl.values.hits}}

Troubled Touchwood Investments Plc (TWOD) has finally spoken, following the landmark Commercial High Court ruling calling for its liquidation. Nearly 20 days after the Commercial High Court’s judgment, TWOD in a filing dated 24 June to the Colombo Stock Exchange, TWOD said that with regard to the case held on 5 June in relation to the company, the judgment was given for the company to be wound up. It said G.K. Sudath Kumar via a letter on 16 June had indicated that he had been appointed as the liquidator for TWOD. “An appeal against the judgment that was given against Touchwood Investments Plc, a notice of appeal was filed on 23 June,” the company said in its filing to the CSE. It also revealed that the counsel who would be appearing on behalf of TWOD in the Supreme Court would be President’s Counsel Nihal Fernando and Sanath Wijayawardhane is the new instructing Attorney for the company. In opposing the winding-up application, President’s Counsel Harsha Amarasekera with Shehan Gunawardene instructed by Paul Rathnayake Associates appeared for TWOD.

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