News

US District Court rejects motion filed by GoSL

Published

2 years ago

April 10, 2023

editor

A DIstrict Court in the United States has denied a motion by the Sri Lankan Government to dismiss a lawsuit brought by Hamilton Reserve Bank following the default by Sri Lanka on a sum of more than USD 257 million of bonds and interest that Hamilton had invested in.

Following the court order, the case will proceed to decide on whether the Sri Lankan Government must pay the outstanding amount.

Meanwhile, the experts pointed out that there is a risk of acquiring foreign assets of Sri Lanka if a foreign court decides against the Sri Lankan Government in a debt-related case.

They said that the seizure of a vessel belonging to Argentina in a port in Ghana in 2012 is an example.

The vessel was seized following a lawsuit filed by an American company in a Ghanaian Court regarding an incident of Argentina’s debt default.

News

Vote on Account for first four months of 2025 passed in Parliament

Published

8 hours ago

December 7, 2024

editor

The resolution for the Vote on Account, ensuring government operations and debt servicing for the initial four months of 2025, was passed in Parliament yesterday (6) without a vote.

The debate on the resolution, initially presented on 3 December, spanned two days.

News

US delegation discusses economic and governance reforms with foreign minister

Published

8 hours ago

December 7, 2024

editor

A U.S. delegation led by Assistant Secretary Donald Lu met with Foreign Minister Vijitha Herath to congratulate Sri Lanka’s new administration. Discussions focused on shared priorities, including economic and governance reforms, with plans for tailored programs, capacity-building, and technical assistance to benefit the Sri Lankan people.

News

CAA seizes bottled water stock in Hemmatagama over violations

Published

1 day ago

December 6, 2024

editor

The Consumer Affairs Authority (CAA) raided a factory in Hemmatagama, Mawanella, seizing over 3,000 bottles of drinking water prepared for distribution.

Investigations revealed that the factory’s Health Ministry registration certificate had expired and was obtained using false information. The seized stock included bottles of varying sizes from 500 ml to 19 liters.

The CAA emphasized that falsely claiming standards or endorsements violates the CAA Act, and legal action will be taken against the violators. Regular raids are conducted to prevent consumer deception.