Dec 18, 2017

UB Finance encourages legal or other alternative action Featured

UB Finance has sent us another response to the articles we have been publishing, courtesy ‘Sathhanda’ newspaper, with regard to the controversy surrounding Continental Residencies at Periyamulla in Negombo and related matters.

The company notes that if any party has an interest in this matter and are not satisfied with the Company’s position regarding same, they are free to seek legal or other alternative action as they find appropriate. .

It says in the response letter,

We refer to our letter dated 13/11/2017 bearing ref no. 17/01062/CEO/LM and the above article (refer attached — annexure 1 and 2) and wish to reiterate that the said transaction was done in the normal course of business of the Company in which all the formalities have been observed and followed. As per records of the Company no advances / consideration has been received by the Company with regard to said lot no. 65, prior to the stated transaction. Further, if any party has an interest in this matter and are not satisfied with the Company’s position regarding same, they are free to seek legal or other alternative action as they find appropriate. As a respected and responsible media organization we kindly request you to give equal visibility to the Company’s position on this matter. Thanking you in advance.

UBFinance

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