⚖️ Court Confirms Liquidator Control Over Tamarind Hill Hotel

The Commercial High Court has ruled that the boutique hotel Tamarind Hill in Galle must be handed over to the court-appointed liquidator of Asia Leisure Ltd., dismissing intervention attempts by Asia Capital PLC and Asia Leisure Holdings Ltd. • Key Legal Ruling: The court rejected objections to restrain the liquidator, affirming that once a company is wound up, control of its assets—including business operations—vests strictly in the liquidator under the Companies Act. • Asset Status: Despite challenges, the court held that Tamarind Hill is an asset of Asia Leisure Ltd., noting the property remains registered under that name with the Sri Lanka Tourism Development Authority (SLTDA). • Operational Shift: The court observed that the hotel continued operating after the winding-up order and had shifted control to a related entity without a lawful basis, necessitating immediate intervention by the liquidator to ensure proper administration. • Enforcement: The Court has directed the Fiscal to assist the liquidator in taking possession. All related parties, including parent company Asia Capital PLC, are legally barred from interfering with the liquidation process. _Note: This ruling reinforces insolvency law protections for creditors and shareholders by preventing related entities from bypassing statutory liquidation processes._