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Arbitration begins tomorrow

31 October 2010 03:41 pm - 16     - {{hitsCtrl.values.hits}}

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The arbitration on the controversial hedging deal signed between the US based CITI Bank and the Ceylon Petroleum Corporation (CPC) will start tomorrow in Singapore and go on until November 13, Petroleum Industries Minister Susil Premajayantha said today.

A team comprising of 14 officials from the Central Bank and the CPC including former Petroleum Resources and Development Minister A.H.M.Fowzy and former CPC chairman Ashanta De Mel is expected to give evidence before the arbitration panel. SAJ
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  Comments - 16

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  • Fair n Squaresquare Sunday, 31 October 2010 05:02 PM

    Asantha de mel, where r u?

    J Monday, 01 November 2010 06:59 AM

    No strong Base for Govenment side

    Danan Monday, 01 November 2010 12:24 AM

    Robbers are rewarded with a 14 day luxury trip.

    MagodisThuma Monday, 01 November 2010 01:02 AM

    What's the commission (in millions) of MagodisThuma ?.

    Kumar Wijayasekara Monday, 01 November 2010 02:24 AM

    I am sure this Arbitration hearing will end up with a favorable award to CITI Bank against Petroleum Corporation due to our corruption and mismanagement. Another saga of wasted public money.

    Lalindra Monday, 01 November 2010 02:52 AM

    few CPC staff on holiday in Singapore for ten days @ Amara Hotel BB basis....and daily allowaonce of SGD 75- paid too.....
    Enjoying with kids after the 7th day...ahaaaaa

    Mr.Bean Monday, 01 November 2010 02:58 AM

    DE MEL WHERE ARE YOU,FOOL

    spark Monday, 01 November 2010 03:15 AM

    The GOSL for failing to keep to terms and conditions of the agreement.

    Puwak Baddilla Monday, 01 November 2010 03:25 AM

    This is all about hedging.

    Siripala Gunasinghe Monday, 01 November 2010 09:46 AM

    Cant we get the Militray Panel of SF case to hear this as well??

    Lover Monday, 01 November 2010 10:08 AM

    This will end up in the favour of CITI but it is very good that we get off from this as if this countinous we will loose more money.

    Above the crowd Monday, 01 November 2010 10:12 AM

    He is happy after all he managed to drop Marvan from the team. To hell with hedging,he doesn't know the head or tail of it any way.

    ampara son Sunday, 31 October 2010 03:51 PM

    be carefull guys. remember hedging.

    Puwak Baddilla Sunday, 31 October 2010 03:53 PM

    We may have to expect further increases in taxed. Suba Anagatayake

    ampara son Sunday, 31 October 2010 04:12 PM

    they stolen our money. i think god take care that. samething vat fraud.

    Above the crowd Sunday, 31 October 2010 04:41 PM

    Kauda hora ?


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