AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
SRI LANKAN COURT REMOVES PETROLEUM MINISTER OVER HEDGING DEALS.
COLOMBO Dec 1 Asia Pulse - Sri Lanka's Supreme Court removed the island's petroleum minister and suspended payments - which the court said could amount to US$700 million over nine months - to four banks on hedging deals with a state-run oil firm.
The Supreme Court also removed Ashantha de Mel, chairman of Ceylon Petroleum Corporation (CPC), faulting him for entering into hedging contracts, which Chief Justice Sarath Silva said appeared to be "iniquitous".
Court ordered the petroleum ministry to be taken over by Sri Lanka's president Mahinda Rajapaksa saying petroleum minister A H M Fowzie had not supervised the chairman of the petroleum corporation as he was required to do.
Treasury Secretary Sumith Abeysinghe was ordered to run the CPC until a new chairman is appointed.
Abeysinghe himself was appointed to the posts after court ordered the removal of his predecessor.
CPC has contracts with Citibank for 400,000 barrels, Standard Chartered 300,000, Deutsche Bank 100,000, People's Bank 100,000, and Commercial Bank 20,000 barrels, to buy petroleum products at around 100 dollars a barrel.
CPC entered into hedging contracts in an environment where it was not allowed to raise prices and politicians had also shot down a price formula.
- AL demands scrapping of amendments to CPC, Bar Council Act, THE.
- News wire article from: The America's Intelligence Wire September 22, 2003 700+ words
...amending article 35-A of the CPC the door to justice has virtually...government to bring such amendment to CPC. The AL general secretary also...justices to be nominated by the Chief justice of the Supreme Court as chairman...the government to submit the CPC Amendment Act to the Law ...
- AL demands scrapping of amendments to CPC, Bar Council Act, THE INDEPENDENT.
- News wire article from: Worldsources Online September 22, 2003 700+ words
...amending article 35-A of the CPC the door to justice has virtually...government to bring such amendment to CPC. The AL general secretary also...justices to be nominated by the Chief justice of the Supreme Court as chairman...the government to submit the CPC Amendment Act to the Law ...
- NO PROVISIONS FOR CHIEF JUSTICE TO DIRECT MAGISTRATE TO HOLD INQUIRY.
- News wire article from: Asia Africa Intelligence Wire August 31, 2002 700+ words
...no provisions under the Criminal Procedure Code (CPC) whereby the Chief Justice or Chief Judge of the High Court of Malaya can direct...Mohd Zabidin said that under Section 329 of the CPC, the public prosecutor may at any time direct a magistrate...
- CPC Helpline Trust's seminar on March 17.
- Magazine article from: Business Recorder March 16, 2009 700+ words
...commemorate World Consumer Rights Day, Consumer Protection Council (CPC) of Helpline Trust is organising a seminar on 17th March 2009...seminar and Justice Saiduzzaman Siddiqui(retd), former Chief Justice of Pakistan and Chairman Law Foundation will chair the session...
- SC notice to govt on CPC amendments.
- News wire article from: Asia Africa Intelligence Wire September 11, 2002 700+ words
...body challenging amendments to the Civil Procedure Code (CPC). They claim the amendments would ''complicate the procedure and harass litigants''. A Bench, comprising Chief Justice B N Kirpal, Justice K G Balakrishnan and Justice Arijit...
- Cooperation of agencies vital for eradicating present ills: Chief Justice of...
- News wire article from: PPI - Pakistan Press International July 7, 2009 700+ words
...ISLAMABAD, July 05 (PPI): Chief Justice of Pakistan (CJP) Iftikhar...Policy here Sunday, the Chief Justice said, We need more courthouses...and the Government. Chief Justice Iftikhar Muhammad Chaudhary...as provided in the CPC and other laws. Necessary...
- Ex-Chief Justice Ngulube Counsels NCC Over Nolle.
- Newspaper article from: Times of Zambia June 11, 2009 700+ words
FORMER chief justice Mathew Ngulube has advised the National...Zambia the criminal procedure code (CPC) allowed the DPP to inform the court...alone exercised the power. The former chief justice advised that the prosecution should...
- COURT PROCEDURE TO BE AMENDED TO AVOID DELAYS, SAYS CHIEF JUSTICE.
- News wire article from: BERNAMA The Malaysian National News Agency August 8, 2006 700+ words
...avoid delays in the disposal of cases, Chief Justice Tun Ahmad Fairuz Sheikh Abdul Halim said...provisions of the Criminal Procedure Code (CPC) that required judges to write in their...computerised proceedings. That provision in CPC (handwriting) can cause delay," he...
- CPC Helpline Trusts seminar on 17th March.
- News wire article from: PPI - Pakistan Press International March 15, 2009 700+ words
...Jalil, City Naib Nazim Karachi has been invited to inaugurate the seminar and Justice (retd) Saiduzzaman Siddiqui, former Chief Justice of Pakistan and Chairman Law Foundation will chair the session-I of the seminar. Justice (retd) Nasir Aslam Zahid and...
- CPC opens up for new users. (Pipelines).(Caspian Pipeline...
- Newspaper article from: FSU Energy April 5, 2002 700+ words
...flowing through the Caspian Pipeline Consortium (CPC) link this year, according to outgoing CPC director Sergei Gnatchenko. Speaking at a press...almost 90pc of a pipeline linking Karachganak to CPC. His comments are confirmed by Karachaganak sources...
Source: HighBeam Research, SRI LANKAN COURT REMOVES PETROLEUM MINISTER OVER HEDGING DEALS.