"Derivative/Hedging" Deals-Volume II - Ameresekere Nihal Sri

First Volume of this explosive Book had been released in May 2011, whilst judicial proceedings were pending. This Volume II has been released after completion of legal proceedings. Author has professionally lucidly set out facts of these dubious derivative / hedging deals in two public interest actions instituted, seeking ‘anti-suit injunctions’, citing renowned authorities, to prevent foreign legal proceedings, and for these transactions perpetrated collusively by Standard Chartered Bank, Citibank and Deutsche Bank on their Customer, Ceylon Petroleum Corporation, to be adjudicated before Supreme Court of Sri Lanka, as the most ‘appropriate forum’. This has been mysteriously strenuously opposed by Attorney General of Sri Lanka, appearing for State Agencies and for himself, on baseless objection of ‘time bar’, resulting in the Supreme Court questionably upholding such objection, with the Author pointing out ludicrousy of such Order. As a consequence, High Court of Justice United Kingdom granted Judgment in favour of Standard Chartered Bank. 3 Member Arbitral Tribunal of London Court of International Arbitration having recognized true nature as wagering had rejected Citibank Claim, notwithstanding Judgment re - Standard Chartered Bank being before them. 3 Member Arbitral Tribunal of International Centre for Settlement of Investment Disputes had a division, with 2 Members Awarding Deutsche Bank Claim, with ‘gaming debt as investment’, and one Member dissenting. This would open floodgates to prevent recovery of stolen assets stashed overseas. Ironically, Attorney General of Sri Lanka had relied on persons, who had to be investigated, and who had been compromised by these Banks, to give evidence, and with resultant settlements. Golden book for those interested in contemporary financial crimes!

What is emphasized is that ‘economic terrorism’ germinates ‘armed terrorism’, resulting in the violation of human rights. ‘Concerns of humanity, transcends interests of nationality’, propounds the Author. Poverty alleviation schemes merely replace, at the cost of the poor, their own resources pillaged and plundered by socio-politically influential. Politicians vigorously campaign on election platforms, vociferously decrying fraud and corruption, vowing stringent action thereon. However, upon assuming office of government, get bogged down in the very quagmire of fraud and corruption, invariably peddled by powerful multinationals, acting in cahoots and collusion, with political financiers and lackeys, alarmingly including professionals – as lucidly demonstrated through a series of other publications on the Author’s real life experiences thereon, which has material relevance to people in other countries, who are confronted with similar issues and problems.