Business Times

Finance depositors to support a presidential candidate

Six associations of failed finance and real estate companies representing around 35,800 depositors this week pledged to support one of the two presidential candidates – either President Mahinda Rajapaksa or General Sarath Fonseka – and will make a decision soon on which one.

They also jointly appealed to the government to take over all the assets of Ceylinco companies and bring them under one management to settle their money and operate it as viable entities. Presidents of these associations told a press conference in Colombo this week that President Rajapaksa recently assured depositors of solving their problems and directed the Central Bank and the Attorney General’s Department to take prompt action. But no action had been taken so far, they said.

President of the Golden Key Depositors Association Anusha Emmert said they kept faith in the President, but there was no positive response to their requests. As a result, the six depositors associations came together to form an umbrella body to decide in two weeks which candidate they would support.

If there is no government response, they would openly support the opposition presidential candidate.
“What we are demanding the government is to make equal payments to all disgruntled depositors as there are sufficient assets to pay depositors, by freezing all assets of Ceylinco subsidiaries,” Ms Emmert said.

President of the F&G Depositors Association, Nelani Gunathilake said despite the Supreme Court directing the Central Bank and the AG’s Department to set up two separate trusts to make repayments to depositors no action has been taken even after an assurance was given by President Rajapaksa.

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