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CPC gets $ 2.5mn as legal fees

29 December 2011 09:40 am - 9     - {{hitsCtrl.values.hits}}

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A Singapore arbitration panel has ordered CITI Bank to pay $2.5 million to Ceylon Petroleum Cooperation (CPC) as legal fees for the Hedging case, the Petroleum Ministry stated.

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  • Wara Thursday, 29 December 2011 10:22 AM

    Very good !!

    jay Thursday, 29 December 2011 10:39 AM

    Wonder if we will get a price reduction in fuel even now...

    Most likely they will increase the prices !

    SL Thursday, 29 December 2011 12:07 PM

    A happy news after a loooong time.
    well done guys.
    pls do not repeat same error agian

    M Y Thursday, 29 December 2011 12:11 PM

    Here after in sri lanka,price of fuel will never reduced under any circumstances.Even the cost of fuel price comes down 1 cents.

    people Thursday, 29 December 2011 01:36 PM

    Ok.. why don't you tell us the amount of legal fees we paid on thee lost case on the same subject?

    Nodrog Thursday, 29 December 2011 02:39 PM

    No need to be happy......petty cash compared to what we have alreay spent or lost!

    lk Thursday, 29 December 2011 02:40 PM

    so fuel prices will reduce?

    Sarath Friday, 30 December 2011 12:50 AM

    It seems many have forgotten that CPC won the arbitration against Citibank and saved US$ 264 million already.

    Nicky Karunarathna Friday, 30 December 2011 05:02 AM

    Guys don't ask about the petrol prices but ask the newspaper men and others who burn their midnight oil about this deal and criticising the government about loss!


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