Enjoining order restraining Sampath

Monday, 11 November 2019 01:41 - - {{hitsCtrl.values.hits}}

Bank and Ben Consortium issued and extended

The Commercial High Court Judge Prsantha De Silva J issued on 23 October and extended until 21 January 2020 an enjoining order restraining Sampath Bank PLC from auctioning by way of Parate Execution the Condominium Property known as Boswell Residencies of Boswell Place Colombo 6 which are occupied by 51 occupants.

The said Occupants petitioned court that they had made all payments to the Developer Ben Consortium Constructions Ltd. and without their knowledge that the Developer had mortgaged the property to Sampath Bank PLC.

The Plaintiffs further stated that Sampath Bank PLC had failed in its fiduciary duty as a Bank by executing the said mortgage bond and thus, sought court’s intervention to restrain Sampath Bank PLC from proceeding with the Parate Execution further restrained Ban Consortium and Constructions Ltd. from further alienating the said property.

Farman Cassim PC with Charaka Jayaratne AAL for the Plaintiff instructed by Poornima Gnanasekere.

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