Court extends order preventing payment to Chinese company

The Commercial High Court in Colombo has extended an order preventing the payment to a Chinese fertilizer company.

The court today ordered that the payment not be made to the Chinese company until 19th November when the case will be heard again.

China recently blacklisted the People’s Bank over the dispute with Sri Lanka and has also advised Chinese companies not to do business with the bank.

The ban followed a dispute over contaminated fertilizer which Sri Lanka refused to accept from a Chinese company.

The Sri Lankan Government has refused to pay for the fertilizer until a fresh stock is shipped to the country.

The Economic and Commercial Office of the Embassy of the People’s Republic of China in Sri Lanka said it had backlisted the People’s Bank of Sri Lanka for defaulting on payments according to the Letter of Credit (L/C) and the contacts between two parties.

People’s Bank said it has already communicated to the relevant authorities at the Chinese Embassy that the bank is bound by an enjoining order issued by the Western Province Commercial High Courts of Sri Lanka with regard to the trade transaction in question, which precludes the bank from processing of the payment.

People’s Bank said that once the legal barriers in effect are removed, the LC payment will be effected promptly as per the usual trade practices. (Colombo Gazette)

5 COMMENTS

  1. My message to Sri Lankan politicians is ‘stop insulting knowledgeable Sri Lankans and the dragon.’ If you carry on you will end up learning an embarrassing lesson. You thought you are wiser than knowledgeable people but you have become a laughing stock. You will get into trouble by showing your head to the dragon, tail to Americans and feet to Indians. None-alliance will not work, I have been saying this for years. Singapore would not have developed if Singapore leaders listened to China and India. In the 20th century, Americans had money so Singapore committed to Americans. In the 21 century, China has money. Thus, Sri Lanka should stick with China. In my lifetime I have seen people pay high prices for ignoring knowledgeable people. Without a doubt, the Rajapaksas will pay a high price.

    Pro UNP Sinhalese who laughed at me in 2015, failed utterly in the 2019 Presidential election and the 2020 Parliament election. They only got one seat through the National list. The LTTE and Tamil diaspora leaders didn’t bother to reply to my letters in 2003, In 2009 the LTTE vanished from the earth. In 2008, the Australian Government deleted my citizenship and brought me to the street due to my writings, in 2020 China stop buying from Australia and Australia lost billions of dollars. Indians who continue to ignore people like me will see their beloved country broken into a few more countries as their forefathers who had witnessed India broken into a few countries in the 20th century.

    In 2015, I was elected as one of the seven final candidates for the Vice-Chancellor position for Colombo University. I gave a speech that I would collaborate with the National University of Singapore to lift the standards of Colombo University. The foolish pro UNP audience laughed and shouted at me ‘this is Sri Lanka, not Singapore.’ They also said that I do not have peer review for my researches, even though my research was far greater than PhD research requirement. The educated fools who laughed at me did not get a seat in the last election, people did not vote for them but they got one seat from the National List.

    I have an Australian business degree and a postgraduate qualification in Human Resources Management. On top of that, I have read more than 300 books to expand my knowledge in world history, human development, the global economy and international affairs. Furthermore, I have done two pieces of research papers. I also have lived on four continents and travelled to over 25 countries around the world to understand cultures, local economy and political systems. I am a passionate intellectual when it comes to enlightening others through my knowledge.

    My first research piece was ‘What are the stumbling blocks for Asians to prosper as the world’s majority in Asia, as well as in the world?’ My second research piece was ‘What made the Western countries so powerful, and what does it take them to keep their power?’ For both pieces of research, I chose the research materials because the western countries would not support this kind of information to equip Asians or tell the world how they have been ruling and intending to carry on.

  2. Your writing conveys that you are a pseudo-intellectual.

    The most ‘fowerpull’ people (Sri Lankan’s) are too smart to learn anything from the rest of the world. That’s why a country that should have been the Hong Kong of the Indian Ocean still languishes as a third world hovel.

    • Dear Gabriella,

      You think that all people are similar to Indians, Native Americans, Australian and Canadian Aboriginal people. Trust me, wise Asians have a surprise for you in the near future. Your good times are well and truly over.

    • A big surprise is wasting for South Asians, Americans and British for turning a blind eye to Australian convicts. You have no chance of being on top while entertaining a bunch of convicts. Generally, houses are massively big compare to a house key. Even house door is bigger than a house key. But house key is very small but it helps to control the house. I consider myself as a house key. I can teach a lesson to convicts and foolish South Asians who bend backwards to convicts.

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