The Commercial High Court of Colombo has issued interim orders today (10), against four licensed Commercial Banks suspending banking accounts on a case filed by a Canadian national.
The Petitioner, Jeanette Kangas stated that her total investment to the tune of 1.5 million Canadian Dollars towards Sapphire Beach Hotel, Hikkaduwa has been mismanaged by her local partner and Director of the company Thusitha Jayasinghe.
Commercial High Court Judge Priyantha Fernando issued the interim orders suspending bank accounts belonging to Sampath Bank PLC, Nations Trust Bank, Bank of Ceylon and Hatton National Bank.
The Court orders were made subsequent to an Oppression and mismanagement petition which was filed under sections 224 and 225 of the Companies Act No 7 of 2007.
Submissions were made that the other Director of 1st Respondent Company, Sapphire Seas Pvt Ltd, acted with an irrational and capricious manner in banking dealings and the Petitioner was purposely kept away from the day to day running of the hotel.
Cousel Venuke Cooray with Attorneys-at-Law, Himali Ariyasena and Randima Rasangi instructed by Cooray & Cooray appeared for the Petitioner.
