Kiwlegedera overseas; promises to return for Touchwood case
Former Touchwood Investments PLC Chairman/CEO Lanka Kiwlegedera, seemingly avoiding court appearances relating to the dodgy Touchwood investments, on Thursday agreed through his counsel to be present in court on the next date, August 7.
When the case came up, the Commercial High Court on Thursday ordered Mr. Kiwlegedera, currently abroad, to submit the Statement of Affairs on the next day of hearing.
File picture of the Touchwood Office
High Court Judge Amendra Seneviratne ordered Mr. Kiwlegedera to submit all documents pertaining to the assets of the company to Liquidator Sudath Kumar before August 7 or in court at the next hearing.
Kumar’s Counsel Hafeel Farisz pointed out in court that Mr. Kiwlegedera was not cooperating by providing the details through a Statement of Affairs. However Kiwlegedera’s counsel, Sanath Wijewardena informed court that his client was currently out of the country and would be back on August 4 and agreed to submit all documents. Earlier notice was issued on Mr. Kiwlegedera to appear before courts on July 31 as he had failed to submit the assets of the company.
Meanwhile, investors of Touchwood Investments that is currently under liquidation would be granted an extension on the time period to submit their claims.
Touchwood liquidator Sudath Kumar told the Business Times that they would be extending the time period for depositors to submit their claims due to requests by these persons. He noted that up to date they have received nearly 900 claims and hoped to receive at least about 1000.
The time period would be extended by a minimum of two months, Mr. Kumar said adding that this was mainly due to individuals, resident overseas who had contacted him requesting for an extension.
Some depositors had contacted him from South Africa, Australia, the United States and Dubai, he said.
Mr. Kumar submitted to court the progress report on the liquidation process currently underway.