Several Expressions of Interest have already been received for the state-of-the-art Golden Key ENT Hospital, which has been advertised for sale as part of ongoing efforts to sell the assets of Lalith Kotelwala to settle distraught depositors, a senior official said last week.

"We are happy with the response to purchase this ultra-modern medical facility – one of the best in this part of the world", he said. "But we need to get the right price for it".

Some overseas investors are also expected to bid for this high-tech medical complex in Colombo which has been valued at more than 1.5 billion rupees, he said. "A leading private hospital has also shown interest in purchasing the facility".

He said that next in line to be sold are a teak plantation and a tea factory owned by Golden Key. "They will also be advertised in due course".

"We will also be auctioning moveable property, including vehicles and furniture, which belonged to Golden Key as soon as a venue has been finalized", the official said. "There was an issue with the earlier location and that’s why the proposed auction was held up".

A sophisticated earth station on a two-acre plus extent of land owned by this crisis-hit Ceylinco subsidiary is also expected to be offered for sale, he noted. "It has been valued at 500 million rupees".

"We are also moving towards transferring Kotelawala’s shareholdings to a Special Purpose Vehicle (SPV) to be sold to strategic buyers", he explained. "This will bring some big bucks".

When the Fundamental Rights (FR) plea filed by a group of Golden Key depositors was taken up again last week, the Supreme Court was informed that the part payments to depositors up to one million rupees has now been completed.

The final batch of cheques to the 2,167 depositors under this segment were mailed on Thursday morning, court was informed. "Repayments to the second category of depositors up to 2.5 million rupees will begin shortly".

After the auditing process is finalized, we can complete repayments by January 15, 2010, the official said. "The Supreme Court has been informed".

However, depositors under both phases receive either 75% or 100,000 rupees, whichever is higher, of their deposits up to 2.5 million rupees. With only 700 million rupees raised so far, the full 75% cannot be paid back.

"We are aware of depositors who had received this part payment", Ms. Dushayanthi Hapugoda, a petitioner in the FR application, said.

She said that the Supreme Court last week directed that depositors under the second phases – that’s up to 2.5 million rupees — be repaid a flat 100,000 each.

A plea by petitioners that an equal percentage be paid back to all depositors on the basis of available funds after assets are sold, was allowed by court, she said. "This means that everybody will receive an equal share after the repayment of the flat 100,000 rupees is completed".

The Supreme Court-appointed Committee of Chartered Accountants has prepared a list of 7,000 depositors on the basis of documentation received in response to the public notification, the official said.

"The computer system indicates a bigger list but we have gone by the individual responses from depositors to our notification", he said. "Scores of others failed to respond for whatever reason".

The FR case was listed for hearing again on January 13, 2010.