Monday, February 17, 2014

Dr. Gamani Corea leaves estate exceeding Rs 1.5 billion

The late Dr. Gamani Corea, economist and one time head of the UNCTAD, has left an estate exceeding Rs. 1.5 billion in his last will and testament.

He passed away on November 03, 2013, the day before his 88th birthday.

Dr. Corea’s assets include Rs. 1.2 billion in property valued in 2011, investments worth Rs. 11 million, Rs. 67 million in fixed deposits with Rs. 5 million in interest income, Rs. 6 million in his UN pension and a current account of Rs. 86 million.

The late Dr. Corea’s assets include land and buildings at Horton Place and Gregory’s Road, Colombo 7 and at Havelock Drive in Nuwara Eliya and in Geneva; investments in Seylan Bank, Ceylon Theatres Ltd., Colonial Motors PLC, Cargills Ceylon PLC, fixed deposits in several banks, US dollar savings deposits, rent income and income from plantations.

The property in Switzerland is not yet valued.

Suganthie Wijayasuriya-Kadirgamar was this week appointed the administrator pendente lite of the estate of Dr. Corea by additional Colombo district judge Y. Fernando.

The main beneficiary of the late Dr. Corea’s estate will be the Gamani Corea Foundation which is set up with its main objects being to promote and conduct research in economics and other related fields of learning.

It gives grants and scholarships for educational and training purposes such as fellowships and other academic positions at universities and gives grants, gifts or donations in the name of his mother, Freda Corea.

No comments:

Post a Comment

Related Posts with Thumbnails