manusath-derana

Court orders liquidation of Touchwood

June, 5, 2014

While court ordered today that the controversial reforestation company Touchwood be liquidated, the current Chief Executive Officer of the company says that they would appeal against this verdict.

A group of investors had filed legal action before the Commercial High Court No. 3  claiming that Touchwood had failed to pay any dividends to its depositors and that several cheques from the company have been not honoured and hence the company be closed down. The verdict of the case was delivered today [05 June].

Touchwood Chief Executive Officer Vijan Lanka Kivulegedera told AdaderanaBiz that court had ordered a liquidator be appointed by 14 July to dissolve the company.

“We intend to appeal against this verdict,” he added.

Meanwhile, the company stated that it is to shortly begin a new operation at a different location under a new theme and a new logo. Accordingly, it stated earlier that its offices have been moved to Pelawatte in Battaramulla and was to begin operations on 02 June.

Its board of directors was named as Vijan Lanka Kivulegedera as Chairman and Chief Executive Officer and Upul Indrajith Pieris, Anuruddha Dias Bandaranayake as Directors.