The possibility of vesting the ownership of the Ceylinco House building in Fort and Hotel Ceysands in Bentota, owned by the troubled Ceylinco Group, with a few depositors whose money is equivalent to the value of these two properties is being explored by an official committee tasked with disposing Ceylinco assetss to pay off depositors.
This directive was made by the Supreme Court on Wednesday after ordering the seizure of all assets of Golden key Credit (GK) Card Company and its subsidiaries including all assets of Ceylinco Deputy Chairperson Sicille Kotelawala which are to be sold. The other assets include the GK E&T hospital.
The Court also ordered the seizure of Mrs Kotelawala’s bank accounts which has Rs 259 million. Meanwhile GK CEO Khavan Perera and director Sarada Sumanasekara were released after being in remand for nearly 11 months on heavy bail conditions by the Supreme Court.