ISSN: 1391 - 0531
Sunday, February 18, 2007
Vol. 41 - No 38
Financial Times  

Vittachi: In or out by Feb 21

Dr. V.P. Vittachi, who is embroiled in a dispute with his hostile partner Harry Jayawardene as to the Chairmanship of Stassen Exports, will have to wait until February 21, 2007 to find out whether he can resume his position at the helm of the company, in one of the most widely-followed corporate cases.

Vittachi filed an appeal at the Court of Appeal this week against a ruling given to Jayawardene after a Colombo District judge dismissed the enjoining order issued in December 2006 preventing the latter from removing Vittachi from the Board of Directors at Stassen.

Sources close to the case told The Sunday Times FT that the judge hearing the case 'reserved the order' until next week.
Since December 2006, when Vittachi was abruptly dismissed as Chairman of Stassen Exports it has been courtroom battle after battle. Immediately following his dismissal which Vittachi referred to as 'illegal', he was issued an enjoining order by the courts, allowing him to resume his duties as Chairman.

However, Jayawardene, not to be outdone by his rival got the enjoining order dismissed and a ruling that appears to be ambiguous.

The sources said that the ruling gives both parties the right to their positions -- until the case is completed. After hearing lengthy testimony from both sides on Thursday, everyone will be anxiously awaiting the judgment to be set forth in the coming week. (NG)

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