Tag: Company Law
Corporate Takeovers: Regulatory Frameworks, Challenges, and International Comparisons
Corporate phenomena such as takeover offers—exemplified by Hatton National Bank’s bid for control of the Commercial Bank of Ceylon and the contest between Vanik Incorporated Ltd and Asia Capital Ltd over Forbes Ceylon Ltd—highlight the importance of regulatory frameworks like the Company Takeovers and Mergers Code of Sri Lanka. This code, introduced by the Securities…
Petition for Winding-up of Expo Brand Packs (Pvt) Ltd
Case Overview The Commercial High Court of the Western Province, Colombo, issued a significant order in Case No. CHC 70/2016/CO regarding the winding-up proceedings of Expo Brand Packs (Pvt) Ltd., under Part XII of the Companies Act, No. 07 of 2007. This case illustrates essential aspects of corporate insolvency law, the role of liquidators, and…
Disputes over the liquidation process and the sale of company property
1. Introduction Ms. Daisy Pieris and Others V H.A. Pieris and Others. Court of AppealCA/Leave to Appeal/69/2006, Section 255 (c)and (f) of the Companies Act 17 of 1982 – Laches- Once a Winding up Order is made, the Directors cease to be in control of the Company – new ground cannot be considered for the first time…