The Hon. Sunil Watagala, Attorney-at-Law – Deputy Minister of Public Security and Parliamentary Affairs

¶ 01 Hon. Presiding Member, by passing this strong Bill, the NPP Government fulfills a key mandate. We have reviewed the old Insolvency Ordinance (1853), the Companies Act (2007), and the 1984 Insolvency Act No. 24, and now modernize the law. We move the parate law framework to a better place by, at minimum, providing a 60‑day window for distressed businesses to take decisions and attempt revival before liquidation. This is a public and business aspiration.

¶ 02 Recall: when we took office, the Treasury and Central Bank had publicly declared insolvency. Step by step, we restored reserves and stabilized the macro-environment. Yet today the Opposition alleges we pressure the judiciary. No government has strengthened judicial independence like ours. We promised institutional independence—especially of the judiciary—and have ensured it by depoliticizing the AG’s Department, CIABOC, CID, and the Police under independent frameworks. As a result, judicial independence thrives.

¶ 03 History shows who pressured courts: mobs stoned the then Chief Justice Neville Samarakoon’s residence; later, Chief Justice Shirani Bandaranayake was ousted for adverse rulings, and even a bank chairman was brought to occupy the CJ’s chair. Previously, appointments were at the sole discretion of the President; now they are under the Constitutional Council.

¶ 04 Under Ranil Wickremesinghe, when we challenged the local government election postponement, the Supreme Court granted interim relief ordering elections. An Opposition backbencher then sought to summon the three Justices to Parliament for “questioning” their order. That is real interference.

¶ 05 Today, as independent institutions and courts proceed, some panic and cry “Democracy is in danger.” Our mandate is to catch thieves and punish criminals. It is not interference for the public to know case dates: e.g., cases against Namal Rajapaksa (Krish), Keheliya Rambukwella (Rs. 97 million fake drugs), Champika Ranawaka, Chamara Sampath (Uva cheque fraud), Saran Gunawardena (bribery), Shashindra Rajapaksa, Sajin de Vass, Yoshitha Rajapaksa (Daisy Achchi assets), Lakshman Yapa Abeywardena, Mervyn Silva, Ravi Karunanayake (two cases), Piyankara Jayaratne, among others. The President said investigations into alleged crimes will proceed expeditiously over the next six to seven months—this is meeting public expectations, not pressuring courts. No matter who panics, we will not retreat from fulfilling the people’s mandate.