June 05, 2014 (LBO) - Sri Lanka's courts have ordered the liquidation of Touchwood, a controversial forestry investment company, but a appeal of the decision is planned, a media report said.
Adaderanabiz.lk, a Colombo based business news portal quoted Touchwood chief executive Lanka Kewlegedera as saying that they firm planned to appeal the liquidation order.
Court has ordered a liquidator to be appointed by July 14, he was quoted as saying.
Touchwood ran a forestry investment scheme where investors were promised high returns from mahogany and other plantations.
Several investors however went to court asking it to be liquidated.
Meanwhile recent media reports said trees in some forestry plantations and some investors were attempting to prevent it.
Adaderanabiz.lk, a Colombo based business news portal quoted Touchwood chief executive Lanka Kewlegedera as saying that they firm planned to appeal the liquidation order.
Court has ordered a liquidator to be appointed by July 14, he was quoted as saying.
Touchwood ran a forestry investment scheme where investors were promised high returns from mahogany and other plantations.
Several investors however went to court asking it to be liquidated.
Meanwhile recent media reports said trees in some forestry plantations and some investors were attempting to prevent it.
No comments:
Post a Comment