Commercial High Court orders winding up of top paper manufacturer

Thursday, 17 November 2022 01:00 - - {{hitsCtrl.values.hits}}

In a heavily fought winding up application, Commercial High Court Judge Pradeep Hettiarachchi recently allowed the winding up of W.U. Seneviratne and Company Ltd., a prominent paper and envelope manufacturer in an application made by petitioner Gnamuttu Anandan.

The petitioner sought to wind up W.U. Seneviratne and Company Ltd. as a sum of Rs. 255 million that had been due and owing had been unpaid despite statutory demand being made.

A.A.M. Illiyas PC with N.R. Sivendran AAL appeared for the company sought to be wound-up and invoked the inherent jurisdiction of Court to prevent the winding-up which was firmly resisted by Faiszer Musthpha PC appeared with Shaheeda Barrie and Tharaka Nanayakkara, Attorneys-at-Law for the Petitioner instructed by Neelakandan and Neelakandan.

After lengthy oral and written submissions made by parties the Commercial High Court Judge Hettiarachchi decided in favour of the Petitioner and allowed publication of the notice of winding-up.