Jan 08, 2017

Rakna Lanka ordered to pay Rs. 840 m to Avant Garde

Rakna Arakshaka Lanka has been ordered to pay a Rs. 840 million compensation to Avant Garde Maritime company.

The order has been given by Singapore International Arbitration Centre for having disrupted a legal business.

Avant Garde chairman Nissanka Senadhipathi said they have also filed for a Rs. 2,300 million compensation from the Sri Lanka Navy for having illegally taken over a legal business.

He said the compensation received would be deposited in a bank account and used to pay a monthly allowance for Avant Garde employees who have lost their jobs.

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