Overseas Corporate Structures, which hide ‘Real Owners’
Foreign Business Empire of a Sri Lankan Entrepreneur ?
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11. KURIL ANSTALT, LIECHTENSTEIN, SWITZERLAND
“5.xiii The said beneficial ownership of the foreign business interests and/or foreign assets and/or foreign business transactions of Late Mr. P. Upali Wijewardene had not been disputed and/or denied by the Administrators of the said ultimate Foreign Company, Kuril Anstalt in Liechtenstein, through which, we verily believe, he had directly and/or indirectly owned and controlled the several foreign companies, referred to in the said Joint-Report dated 26.4.2000 and elaborated upon in the said Interim-Report dated 13.9.2000 and the said Interim Report II dated 17.1.2001, and clearly depicted in the Chart 2 and Chart 3 annexed hereto”
“5.xiv. Quoted hereinbelow is Section 13 of the said Interim-Report dated 17.1.2001 in relation to the aforesaid:
“13.1 On 25.5.1987, M/s Murugesu & Neelakandan, Attorneys-at-Law had addressed the following Letter to Dr. A. Wiederkehr & Mr. H. Gassner of Herbert Batliner, of 9490 Vaduz, Liechtenstein, Switzerland on the subject of KURIL ANSTALT, on behalf of Mrs. H.A.D. Wijesundera and Mrs. A.K. Attygalle, as the 50% Heirs to the Estate of Late Mr. P.U. Wijewardene, on the basis that the beneficial owner of the said KURIL ANSTALT had been the Late Mr. P.U. Wijewardene, and that the aforesaid persons were the Administrators of KURIL ANSTALT, requesting them to protect the interests and rights of Mrs. H.A.D. Wijesundera and Mrs. A.K. Attygalle and let them have all the particulars in respect of the said Company KURIL ANSTALT.
13.2. The full extract of the aforesaid Letter dated 25.5.1987 pertaining to the said KURIL ANSTALT addressed by M/s Murugesu & Neelakandan, Attorneys-at-Law to Dr. A. Wiederkehr & Mr. H. Gassner, of Herbert Batliner, of Liechtenstein on behalf of Mrs. H.A.D. Wijesundera and Mrs. A.K. Attygalle has been quoted below:
“ Neelakandan KN/DJWT-Ct.10(95)
25th May 1987
REGISTERED AIR MAIL
Dr. A. Wiederkehr & Mr. H. Gassner,
C/o. Buro Dr. Herbert Batliner,
Postfach 86,
Aeulestr, 74,
9490 Vaduz,
Liechtenstein,
Switzerland.
Dear Sirs,
KURIL ANSTALT – the interest
of Mr. P.U. WIJEWARDENE
We are the Lawyers for Mrs. Anoja Wijesundera and Mrs. Kalyani Attygalle, who are the sisters of Mr. Philip Upali Wijewardena.
As you are perhaps aware Mr. Upali Wijewardena is missing from the 13th February 1983 and if he is dead, our clients are entitled to 50% of the assets of the estate of Mr. Upali Wijewardena.
As the aforesaid intestate heirs, our clients have consulted us to take necessary steps to protect their legal rights in respect of the assets of Mr. Upali Wijewardena.
We have been instructed that you are the Administrators of the said company namely, Kuril Anstalt and we are therefore, writing to request you to let us have all the particulars in respect of that company.
On behalf of our clients, we request you to maintain the status-quo of the company and protect the interests and rights of our clients as well.
Your early reply and co-operation in this matter will be appreciated.
Yours faithfully,
Sgd.”
13.3. By Letter dated 3.6.1987 addressed to the said M/s Murugesu & Neelakandan, Attorneys-at-Law the aforementioned Dr. A. Wiederkehr of Herbert Batliner of Liechtenstein had acknowledged and replied the aforesaid Letter dated 25.5.1987 of M/s Murugesu & Neelakandan thanking them very much for the same.
By the said Letter dated 3.6.1987 the said Dr. A. Wiederkehr of Herbert Batliner of Liechtenstein, had not disputed, nor denied, the aforesaid assertions made in the aforesaid Letter dated 25.5.1987 by M/s Murugesu & Neelakandan, Attorneys-at-Law, particularly in regard to the Late Mr. P.U. Wijewardene’s beneficial ownership of the said KURIL ANSTALT.
On the contrary, by the said Letter dated 3.6.1987, Dr. A. Wiederkehr of Herbert Batliner of Liechtenstein had required the Original of the Death Certificate of Late Mr. P.U. Wijewardene issued by the local authorities to be produced to the Board of Directors of the said Company KURIL ANSTALT and in addition the original of the Company Documents, in particular the Deed of Assignment, to enable them to disclose the particulars of the said Company to the second beneficiaries or their representatives in accordance with the rules of the Liechtenstein Company Law.
13.4. The full extract of the aforesaid Letter dated 3.6.1987 pertaining to KURIL ANSTALT addressed by Dr. A. Wiederkehr of Herbert Batliner of Liechtenstein to M/s Murugesu & Neelakandan, Attorneys-at-Law has been quoted below:
Vaduz, 3rd June 1987 sn
Mr. V. Murugesu
Solicitor
att. Mr. Neelakandan
Hemas Building (3rd Floor)
York Street Colombo 1.
SRI LANKA
Your Ref.: KN/DJWT-Ct.10(95)
Dear Mr. Neelakandan,
re: KURIL ANSTALT
We are in receipt of your registered letter dated May 25, 1987 for which we thank you very much.
Please be informed that according to contingent rules of the Liechtenstein company law particulars of the company can only be disclosed to second beneficiaries or their representatives, if the original of a death certificate issued by the competent local authorities can be produced to the Board of Directors.
In addition to that the original of the company documents, in particular Deed of Assignement (Zessionserklarung) as well as the By-Laws (Belstatut) must be presented by any persons pretending that they are entitled to the assets of the company.
Yours sincerely,
Sgd.
Dr.iur. Alex Wiederkehr
13.5. It is quite significant and important to note that as evidenced from the above, Dr. A. Wiederkehr of Herbert Batliner of Liechtenstein had not disputed, nor denied, the aforesaid assertions made of Late Mr. P.U. Wijewardene’s beneficial ownership of the said KURIL ANSTALT.
13.6. Significantly, Dr. A. Wiederkehr of Herbert Batliner of Liechtenstein had called for the aforesaid Documentations from Mrs. H.A.D. Wijesundera and Mrs. A.K. Attygalle, recognising them as the second beneficiaries, he having not disputed, nor denied, that the Late Mr. P.U. Wijewardene had been the prime beneficiary.
13.7. Had Late Mr. P.U. Wijewardene had no such interest, whatsoever, in the said KURIL ANSTALT, then Dr. A. Wiederkehr of Herbert Batliner of Liechtenstein would not have so replied calling for the aforesaid Documentations.
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About the Book
Author brilliantly reveals with documentary evidence, extensive details of incisive investigations meticulously carried out by him, in tracing foreign assets and funds hidden in a complex structure of nominee companies, established in several foreign regimes, allegedly of a phenomenally successful, politically high-profile entrepreneur, who tragically crashes in his Lear Jet Aircraft in the Straits of Malacca. Author demonstrates the modus operandi, as to how funds and assets of politically exposed persons, forced to flee their countries, with siphoned resources of impoverished people, could be hidden under complex corporate structures, set-up by professional organizations, providing nominee Directors / nominee Shareholders, with Trust Instruments, with the real beneficial owners. This Book is invaluable in instances where political leaders / politically exposed persons are ousted from office, through mass uprisings and justifiable rebellions by people, whose resources have been pillaged and plundered, further impoverishing them. Author’s investigations cover secret complex corporate structures, headquartered in Hong Kong, with visible corporates operating in Malaysia, Singapore, Thailand, UK, and USA, with the ultimate beneficial owner’s secret trusteeship traced to an Administrator in Lichtenstein, who does not dispute the name of the real beneficial owner, but requires proof of death and devolution on claimants. This is an invaluable Book to those engaged in tracing wealth stashed away in foreign regimes by politically exposed persons hounded from their countries. Author also sheds light on judicial proceedings vis-a-vis intestate estates of issueless deceased, analysing the incongruousness of legal interpretations, and classical instances of unequal treatment before the law, tainted with politically inspired conduct. This is a valuable handbook to those involved in forensic accounting, investigation and law, and to those engaged in academic, educational and real endeavours in tracing assets and funds hidden in foreign regimes - an integral component of the UN Convention Against Corruption.
About the Author
Nihal Sri Ameresekere, F.C.A. (Sri Lanka), F.C.M.A. (United Kingdom), C.M.A. (Australia), C.G.M.A. (Global), C.F.E. (United States), is a Member, International Consortium on Governmental Financial Management and a Member, International Association of Anti-Corruption Authorities. Former Advisor, Ministry of Finance and Chairman, Public Enterprise Reforms Commission Sri Lanka. Has functioned as Senior Consultant on World Bank and USAID funded public sector economic reform projects.
A multi-disciplinary professional, exposed to private and public sectors, and a public interest activist, with wide international exposure. Not a legal professional, yet has appeared in person before the Supreme Court, successfully advocating public interest litigations. He is a forensic accounting investigative specialist. Has dispassionately spoken out on matters of national and public interest. Ardently upholds the sacred precept, that public property is solely of the people, and managed in fiduciary trust by governments; transgression of which he has committedly combated.
Has published exposés into transactions carried out, under the aegis of IMF, World Bank and ADB privatization agenda, incisively analyzing real case studies, exposing the shockingly dubious manner, in which privatizations have been perpetrated by the highest levels, disclosing the alarming indifference of international developmental agencies, completely eroding public confidence, crucial for meaningful privatization, to foster a free economy, characteristic with transparency.
He emphasizes that ‘economic terrorism’ germinates ‘armed terrorism’, resulting in violation of human rights. ‘Concerns of humanity, transcends interests of nationality’, he propounds; and that 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 – as lucidly demonstrated through a series of other publications on his real life experiences thereon.