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Default:NY court turns down GoSL motion

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A New York court has denied a motion by the government of Sri Lanka to dismiss a lawsuit brought by Hamilton Reserve Bank following the default by the GOSL on a sum of more than $257 million of bonds and interest that Hamilton had invested in.The case would therefore proceed, to decide on whether the GOSL must immediately pay the outstanding amount, agency reports said.

Denise Cote, Judge of the District Court of the Southern District of New York, on March 24 dismissed the motion filed by the law firm representing the GOSL, Clifford Chance US LLP.

St. Kitts-Nevis, Hamilton Reserve Bank, which is being represented by the law firms of Bleichmar, Fonti & Auld LLP; and Jenner & Block LLP, brought the action for breach of contract to recover the principal sum of $250,190,000 plus interest of 7,349,331.25 of the bonds.

The 10-year bonds matured on July 25, 2022. The registered holder of the bonds is New York-based Cede & Co., while Hamilton Reserve Bank is the beneficial holder. Cede & Co. has authorized Hamilton Reserve Bank to take action on behalf of Cede & Co. to recover the amounts.

The GOSL’s argument was that Hamilton Reserve Bank had no authority as the registered holder of the bonds is Cede & Co. In dismissing the motion, the court recognised the validity of Cede & Co’s authorization to Hamilton Reserve Bank.



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Flood warning issued to the Divisional Secretariat Divisions of Ganga Ihala Korale, Udapalatha, Doluwa, Udunuwara, Yatinuwara, Gangawata Korale, Harispattuwa, and Pathadumbara

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Due to heavy rainfall received in the upper catchment areas of the Mahaweli River over the past few hours, there is a risk of minor flooding in the low-lying areas surrounding the Mahaweli River within the Divisional Secretariat Divisions of Ganga Ihala Korale, Udapalatha, Doluwa, Udunuwara, Yatinuwara, Gangawata Korale, Harispattuwa, and Pathadumbara.Residents living in the above mentioned areas and motorists using roads passing through these areas are urged to exercise extreme caution and remain highly vigilant regarding the prevailing situation.

Furthermore, residents living in close proximity to the Mahaweli River in these areas are advised to remain highly alert to the situation and take all necessary precautions to protect themselves from any potential flooding.The relevant disaster management authorities are requested to take all necessary measures in response to this situation.

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Landslide Red Alerts issued to the districts of Kandy, Kegalle and Nuwara Eliya

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The National Building Research Organisation [NBRO] has  issued landslide Red Alerts to the districts of Kandy,  Kegalle and Nuwara Eliya effective from 14:00 hrs on 20.09.2026 To 14:00 hrs on 21.09.2026

Accordingly,
LEVEL III [RED] Land Slide early warnings have been issued to the Divisional Secretaries Divisions and surrounding areas of Pasbage Korale in the Kandy district,  Dehiowita,  Aranayake,  Deraniyagala,  Mawanella and Yatiyanthota in the Kegalle district and Kothmale West, Kotmale East,  Ambagamuwa and Norwood in the Nuwara Eliya district

LEVEL II [AMBER] Land Slide early warnings have been issued to the Divisional Secretaries Divisions and surrounding areas of Padukka in the Colombo district, Nagoda, Thawalama and Neluwa in the Galle district, Bulathsinhala, Palindanuwara, Walallawita and Agalawatta in the Kalutara district, Ganga Ihala Korale in the Kandy district, Bulathkohupitiya and Kegalle in the Kegalle district,  Akuressa and Pitabeddara in the Matara district, Thalawakele in the Nuwara Eliya district and Pelmadulla, Ratnapura, Ayagama, Kuruwita and Ratnapura in the Ratnapura district.

LEVEL I [YELLOW] Land Slide early warnings have been issued to the Divisional Secretaries Divisions and surrounding areas of Seethawaka in the Colombo district, Niyagama and Baddegama in the Galle district, Mirigama in the Gampaha district, Ingiriya in the Kalutara district, Udapalatha and Yatinuwara in the Kandy district,  Galigamuwa, Warakapola and Ruwanwella in the Kegalle district, Kotapola, Pasgoda and Athuraliya in the Matara district, and  Eheliyagoda, Kalawana and Elapatha in the Ratnapura district.

 

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Development projects can deliver results to the people more quickly when the political authority and the public service work together towards a common goal – PM

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Prime Minister Dr. Harini Amarasuriya stated that development projects can deliver results to the people more quickly when the political authority and the public service work together towards a common, people-oriented objective.

The Prime Minister made these remarks while participating in a discussion held on Friday [September 18] at the Western Province Council Auditorium to review the progress of the development project to rehabilitate Rathmalana Kandawala Road and the drainage system on either side of the road, within the Dehiwala–Mount Lavinia Municipal Council limits in the Colombo District.

The project, which commenced on September 10, 2026, is scheduled to be completed before June 30, 2027. Implemented by the Provincial Road Development Authority (PRDA), the project includes the construction of a bridge at a cost of Rs. 64 million, the rehabilitation of the drainage system at a cost of Rs. 930 million, and the rehabilitation of the road at a cost of Rs. 115 million.

The Prime Minister also paid special attention to the progress of the responsibilities assigned to the Western Province Council, the Irrigation Department and the Ratmalana Divisional Secretariat in accordance with decisions taken at the previous committee meeting. Attention was also given to the current status of the plans being carried out by the Sri Lanka Land Development Corporation (SLLRDC), as well as the construction and maintenance activities being undertaken by the Provincial Road Development Authority (PRDA).

Commending the expedite and commendable progress of the project, the Prime Minister particularly appreciated the commitment demonstrated by officials of the relevant government institutions to work in close coordination with one another and in collaboration with the political authority.

The Prime Minister also emphasised the importance of taking measures well in advance to control flooding and minimise its impact on Colombo and several other districts in view of the rainy weather that may affect the Western Province during the latter part of this year.

The meeting was attended by the Chairman of the Colombo District Coordinating Committee and Member of Parliament Lakshman Nipuna Arachchi, Chairperson of the Ratmalana Divisional Coordinating Committee and Member of Parliament Samanmalee Gunasinghe, Chairman of the Roads Sub-Committee of the Colombo District Coordinating Committee Dewananda Suraweera, Mayor of the Dehiwala–Mount Lavinia Municipal Council Parakum Shantha, Chief Secretary of the Western Province K.G. Pradeep Pushpakumara, along with a number of government officials.

[Prime Minister’s Media Division]

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