The
collapsed financial company, The Golden Key Credit Company is slated to
restart operations from the 1st of May this year, with a new board of
directors, sources said.
Priyantha Fernando, a former Deputy Governor of the Central Bank, has
been appointed as the Chairman. The other members of the Director Board
include Dushyanthi Hapugoda, V.K. Choksy, Jehan Amarathunga, Aruna
Lekamge and Wasantha Gunathilaka. The first meeting of the Board of
Directors is to be held at the Golden Key building at R.A.D. Mel Mawatha
on April 24.
Mrs.
Hapugoda, who is also chairperson of the Golden Key Depositors
Association, says that the company has a capital of Rs. 90 billion. In
addition, the Golden Key Company owns assets of 16 other companies
including the Golden Key Hospital at Cotta Road.
Measures
are underway to return 41 percent of the funds deposited by the
depositors, utilizing the capital. The Supreme Court has granted the
legal permission in this regard, Mrs. Hapugoda said. The distribution of
shares among the depositors will also take place, she added.
Golden
Key Credit Card Company, a Ceylinco group firm, in 2008 ran into severe
liquidity problems, with estimated customer liabilities in over Rs.78
billion. The former Chairman of the company Dr. Lalith Kothalawala and
11 others have been charged with financial fraud at the company.
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