F&G maturity default case fixed for ex-parte trial

The District Court action against the Finance & Guarantee Company, managed by Central Bank appointed Agents MBSL, was taken up for hearing on October 15 but the respondent F&G was absent.
Lawyers for the plantiffs (two depositors), Sarath Walgamage moved for ex-parte trial and hearing has been fixed for November 8.

In this case, MBSL has solicited investment and a deposit of over Rs 2 million had been placed by the plaintiffs, and Certificates of Deposits issued with the added security of promissory notes. F&G had then defaulted maturity payment and reneged on the promissory notes.