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Tragic
story of a war refugee
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Helplessness and fear -- the fate of all war
refugees |
By Shruthi Mathews
The
ethnic battle continues to rage back and forth; the
insurgency may have been defeated, but conflict remains
in the form of words and increasingly polarised
ideologies. Yet, in the midst of these vociferous
exchanges, who can hear the IDPs themselves; the ones
who have been firmly planted into a situation that is
the direct result of a conflict they have no say in?
Although their state of being is generally known to the
public, their individual stories go untold and therefore
unheard. Their tragedy is so far-reaching and widespread
that it is spelled in the form of figures and statistics
instead of real and poignant accounts of individual and
personal suffering.
Kala,
a mother of three from Kilinochchi, provides a personal
account of her experience. Her family fled their home
following the army takeover of Kilinochchi in January,
and since their departure she recounts that they have
lived in 19 different places. She is now with her
husband in a location where he is undergoing hospital
treatment.
However, during the course of their displacement she was
separated from her children, who she now believes to be
residing in an IDP camp. Her story is heartbreaking, but
it is one of many. She is merely one out of thousands
who have lost families and homes as a result of the
civil conflict, making the waves of suffering
concentrated in the north all the more overwhelming when
examined in such individual terms.
Speak openly
Furthermore, Kala is one of the few IDPs who has the
opportunity to speak openly of her experiences. Although
she has not been in an IDP camp herself, she has
undergone numerous suffering and traumas at the hands of
war, and her story serves as a reminder of the
widespread tragedy that afflicts the civilians of this
country, who continue to pay in pain, lives and tragedy
for a war they had no desire to be a part of.
Kala
is only 30 years old, but she appears frail, with three
children all below the age of seven. “We used to be a
happy family of my husband, three sons, my mother-in-law
and brother-in-law” says Kala. “Unexpectedly, because of
the problems in the country, we lost everything; our
house, belongings and wealth. We have had to live in 19
different places, including a bunker, and we have
endured untold poverty and sadness.”
Separated from children
In
April, Kala and her husband were injured and then
transported to Padaviya Hospital for treatment. They
were both rendered unconscious by the attack, and on
waking up in hospital did not know the whereabouts of
their children. “We both had heavy hearts and were
sobbing together as we could not find our boys” says
Kala.
Kala
and her husband have been moved between various hospital
around the island. They are currently together, but are
still estranged from their children. They have no money,
family, or a place to stay. Kala is desperate to find
her children but cannot travel back to the North without
her husband, who is yet undergoing hospital treatment.
She has been away from her children for two months now,
and is unsure of their safety and wellbeing.
Helplessness and fear are etched on her face and she is
torn between the need to look after her husband and
returning to the North to search for her children. The
decisions she faces are tough, and her problems are only
further intensified by the fact that she lacks finances
and even the most basic of possessions, such as clothes
and soap. She is visibly distressed at the thought of
her children alone in a camp.
Although she has not been inside one herself, she knows
of their conditions and says that water and toilet
facilities are poor and there is little shelter from the
sun, making habitation a difficult experience.
Wants to live in peace
When
asked about her opinion regarding the ethnic conflict,
Kala states quite simply that all she wants is to be
able to live in peace, to be reunited with her family
and have a stable home, and to not live in fear any
longer. Kala wants her story told because “no one should
have to suffer the way we have suffered”.
Fear
makes her somewhat reticent, but it is evident that her
sole concern is for the wellbeing of her family. She has
no political inclinations, as these seem trivial
compared to her humanitarian plight. It is reasonable to
believe that her view represents that of the majority of
IDPs, who do not want any form of conflict or political
victory, but simply the basic human rights and dignities
that have been denied to them.
All
around
Colombo the radical protests of the Tamil diaspora are heard and
jubilant posters of military victory are seen, yet
ironically, it is the urgently tragic stories like these
– the ones which require immediate and compassionate
responses — that are the most silenced and suppressed.
Ceylinco Shriram Capital
Management (CSCM) :
a path of relief for depositors
By Jeevan Thiyagarajah
The purpose
of this feature is to emphasise the utmost urgency of
meeting the anxiety of depositors who have invested in
two companies carrying deposits of close on 7000
depositors. None have received the expected relief yet
in 2009, though infrequent payments were made to some
by Ceylinco Capital Investment Limited (CCI) and CLC
Asset Management (Pvt) Ltd (CLCAM.)
Orders of
the Supreme Court have triggered some action by the
Central Bank, some directors were remanded, talk of a
credible payment plan has been formally mentioned in
Court on Wednesday, a few Hall of Fame icons have used
intimidation to forcibly extract and write over assets
in lieu of deposits, employees of the CSCM are without
means of a monthly salary, while Ceylinco group
employees have in general suffered considerably, the
cream of our lawyers arguing criminal cases have been
commissioned while their dignity has been on occasion
taken to the fish market and placards have harangued
Courts. The means to fast track relief to depositors
incrementally though exists as explained hereon.
Background
The Sakvithi
deposit scam was followed soon after by the unraveling
of the Golden Key Credit Card company which set in
motion a domino effect, affecting confidence of
depositors in finance companies in particular and the
market in general.
CSCM is the
official money manager who made investment decisions for
CCI and CLCAM who are two separate legal entities, who
solicited depositors funds to be placed in money and
capital market instruments through CSCM.
85% of funds
were invested in group companies. Liquidity and interest
rate risks followed. CCI and CLCAM drew more funds to
meet withdrawals.
Confidence
in Ceylinco Group Companies was tested with depositors
of CCI and CLCAM seeking withdrawals of investments both
at maturity and pre-maturely. The Management decided to
prevent or stop premature withdrawals initially whilst
trying their best to accommodate maturity payments &
payment of interest.
Development of payment plans
Directors of
CCI and CLCAM commissioned Wealth Lanka Management Pvt
Ltd (WLM) for a payment plan to settle depositor claims.
In March, 2009 WLM presented an overview of the Assets &
Liabilities of CCI and CLCAM. With a detailed Payment
Plan option in early April. An alternate revival plan,
was proposed and feedback was sought from the Investor
committee also in April. In May, where depositors
participated, at meeting with the Central Bank of Sri
Lanka the revival plan was presented. The group was
reportedly advised that a state institution be sought as
a strategic/management partner. This meeting was
attended by four representatives of the Investors. At a
6th meeting with depositors in early June the payment
plan option had been discussed. At the 7th meeting on
the July 2, a payment plan proposal was handed over to
the Technical Committee of the Investor Association for
their approval.
Remand and bail for directors
On July 3,
all present and past Directors of CCI, CLCAM and CSCM
were asked to come to the CID for a conference. Four out
of 10 directors showed up and were produced at the Fort
Magistrate’s court. On the submissions made by the
Defence Counsel , the Magistrate granted bail, with the
lawyer representing the investors ratifying the efforts
made by the Management to find a workable solution. The
next hearing was scheduled for July 29, the Attorney
General’s Department. filed a motion in court and called
up the case on July 16, with all 10 directors being
summoned and the State Counsel requested the reversal of
bail granted citing that the credibility of Depositors
Association was not acceptable based on representation
from other outstation depositors. Resulting from the
hearing, five out of the 10 directors were remanded.
Payment plans and options.
CLCAM
Year 2009
Rs Mn
Total
Realisable Assets
2,337
Add :Realiable
Amount from CCIon a/c
of Renewal Transfer
975
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3,312
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Total
Liabilities
2,478
Transferred
Renewals of CCI
2,477
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4,955
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CLCAM
investors would have total realisable Asset value of Rs.
3.3 B to meet Rs. 4.9 B deposits.
However, if
we discount the transfer of CCI investment renewals to
CLCAM, the CLCAM investors would have Rs. 2.3 B
realisable assets to meet Rs.2.4 B deposits. The reason
to discount arises from the fact that CCI was the
original company floated to collect clients’ funds. The
management in 2008 decided to form a new company (CLCAM)
to take over this function. Liabilities of Rs. 2.3
billion originally shown in the books of CCI were
transferred to CLCAM. No physical transfer of assets
representing this liability was made.
CCI
Year 2009
Rs. Mn.
Total
Assets Realisable for Unsecured Creditors
1,947
Less :
Payable Amount to CLCAM on a/c
of Renewals transfer
( 975 )
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Realisable
Assets Available to meet actual Liabilities
972
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Total
Liabilities
4,965
Less :
Transfer of Renewals to CLCAM
(2,477)
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Adjusted
Liabilities after transfer of Renewals to CLCAM
2,488
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CCI
investors would have total realisable Asset value of
Rs.972M to meet Rs.2.4 B deposits.
However, if
we discount the transfer of CCI investment renewals to
CLCAM, the CCI investors would have Rs.1.9 B realisable
assets to meet Rs.4.9 B deposits.
Conclusions
We have not
sought to malign or attribute motive for actions which
may have been taken in conducting the work of either
CSCM, CCI or CLCAM nor gone into the innards which make
up the totals in the previous section. The author has
seen the agony of depositors, the struggle of an
investor to be heard and the effort of a director to
bring into the domain of public knowledge the fiscal
position of the depositors. Many have waited anxiously,
while clearly those who could make it a reality are
struggling to retain their liberty while convincing
those in authority to act without delay. It though is
patently clear that even in a week relief can be brought
on line. |
