CPC allowed to appeal

The Ceylon Petroleum Corporation (CPC) states it has received permission to appeal against the Commercial Court of London Order on the disputed oil derivatives transactions pertaining to Standard Chartered Bank.

A media released by the CPC states: “The Commercial Court of London has delivered judgement in favour of the Standard Chartered Bank (SCB) in the action filed against the Ceylon Petroleum Corporation (CPC) in relation to the disputed oil derivatives transactions. The CPC expresses its disappointment over the judgement. The CPC immediately sought leave to appeal against the judgement.

“The judge decided to grant permission to the CPC to appeal to the Court of Appeal. Any application by the SCB to make such permission conditional will be opposed by the CPC.

“The Attorney General’s Department has been assigned to handle all legal matters in connection with this legal action.”