Interim order issued over Gal Oya Plantation CEO tussle

By Lakmal Sooriyagoda
The Commercial High Court has issued an interim order restraining four directors of Gal Oya Plantations (Pvt.) Ltd or the director nominated by the Treasury Secretary from appointing any person, other than Surath Perera, as Chief Executive Officer of Gal Oya Plantations (Pvt.) Ltd.

Commercial High Court Judge Pradeep Hettiarachchi made this order pursuant to a petition filed by LOLC Holdings PLC and Brown and Company PLC.
The court further issued an interim order preventing the four directors of Gal Oya Plantations (Pvt.) Ltd from violating the management agreement and shareholder agreement. The petitioners are collectively holding 49 percent of the shareholding of Gal Oya Plantations (Pvt.) Ltd, as LOLC Holdings PLC holds 26.95 percent and Brown and Company PLC holds 22.05 percent.

Gal Oya Plantations (Pvt.) Ltd, its Directors Gayan Dissanayake, Dr. Asiri S. Dissanayake, R.M.D.K. Rathnayake, S.H.S. Senewirathne Senumitha, Treasury Secretary S.R. Attygalle and several others were named as respondents in the petition.

Palitha Kumarasinghe PC, with Counsel Harith De Mel, instructed by Sanath Wijewardane, appeared for the petitioners.