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Posts: 42
Join Date: Apr 2009
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The Central Bank (CB) on Thursday urged depositors of the failed Golden Key Credit Card Co (GK) to submit details of monies invested in the company.
In an newspaper advertisement, the CB said details of deposits could be submitted to with supporting documents in a format that has been shown in the ad.
The Supreme Court, in response to a fundamental rights petition by some depositors, had ordered the CB to step into the GK crisis and see whether the money deposited by depositors could be recovered by sale or disposal of assets of the company and its directors. The directors have been ordered to declare their assets to the CB through an affidavit. This case is coming again on Monday, April 27. Earlier, as a sequel to the GK case in the Mount Lavinia Chief Magistrate’s court, the Attorney General’s office had initiated a process to set up a Trust to recover the monies from GK companies and give it to depositors. This process was suspended after the Supreme Court intervention.
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