GK depositors battle continues

by Shirajiv SIRIMANE

The Ceylinco Golden Key Credit Card Company (GKCCC) depositor liabilities have exceeded Rs. 30 billion but up to now not a single depositor has been settled.

Members of the Depositors Association said they are facing severe financial constraints since they are not getting either their deposit back or monthly interest.

"There are Rs. 2 million liquid assets and we are requesting that this be divided proportionately among the depositors as an initial payback," said Treasurer, Golden Key Credit Card Company Depositors Association, Dushanthi Pathirana. She also claimed that all the Kotelawela's assets have not been declared. She added that they met GKCCC Chairman, Lalith Kotelawela last Wednesday however the outcome of the meeting was not satisfactory.

The GKCCC crisis started last November and since then the legal battle is going on.

The total deposit base of the company was over Rs. 26 billion and there were 9,200 depositors.