clears SLT's Sigiri hurdle
Sri Lanka Telecom, which is trying to recover Rs 800 million in
arrears owed by UK-based Premier Communications International (PCI)
Ltd. for calls using the 'Sigiri' card from the UK, has won a legal
battle to terminate its business with PCI.
Colombo Commercial High Court on Friday dismissed two interim injunctions
sought by PCI, restraining SLT from terminating its Sigiri card
contract and business between the two parties.
SLT's loss-making deal with PCI was exclusively reported in The
Sunday Times last month. Lawyers for SLT in their objections maintained
that the previous enjoining order compelled SLT to continue providing
services worth about Rs 90 million a month on unsecured credit terms
to PCI which had already defaulted on payment.They said SLT would
contniue to incur the loss unless the enjoining orders were discharged,
and that the prospect of eventually recovering the total monies
payable by PCI were clearly "remote."