No-one from Ceypetco was immediately available for comment, although a spokesman for Standard Chartered Bank said: “We are happy to gain a favourable judgment.”
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@ISURU wrote:Sri Lanka’s Ceylon Petroleum Corporation (Ceypetco) owes nearly $162 million plus interest to Standard Chartered Bank for non-payment of dues linked to hedging when the oil price hit a record level and then crashed, a London court found on Monday.
No-one from Ceypetco was immediately available for comment, although a spokesman for Standard Chartered Bank said: “We are happy to gain a favourable judgment.
How this will affect the market...? More foreign reserves will flow out from the country.
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