A Sri Lankan is the owner of World renowned Le Pont de La Tour, Blue Pring, Laveceston Palace, all, high-end restaurants making media headlines these days. He owns a network of 34 restaurants in famous cities including New York, Paris and Tokyo.
Desmond Gunewardena is the owner of world famous hotels like Le Pont De La Tour, Blue Pring, Lavceston Place, Sky Low Meea with 2300 employees working under him. His annual income is one hundred million sterling pounds. He is a successful entrepreneur to emulate. He is a father of two, a daughter (24) and a son (22). He is among the richest 100 in London, according to London Times’ rating.
This 53-year- old billionaire, Desmond Gunawardena, migrated to England at the age of seven, having his primary education in a Catholic school in Sri Lanka. He had his formal education in England and joined Ernst and Young as a Chartered Accountant in 1981.
His turning point in life was in 1991 when he joined Conran Holdings Group. Conran Holdings owns numerous restaurants in London which belongs to multi-millionaire Sir Terence Orby Conran. In 11 years in the group, he made the firm a very successful enterprise and ended up as a part owner of the group. The hotel chain was re-branded as D&D naming after his friend’s name David.
Sir Conran and Desmond were very close friends and business partners. Desmond was the key player in making phenomenal profit-making ventures of Sir Conran’s business. Desmon started his own company D&D with one of his friends David running a chain of restaurants with the blessings of Sir Conran.
But Sir Conran realized Desmond was doing his business far better than his and their relationship started to sour.
Soon afterwards Sir Conran acquired 12.5 per cent of Desmond’s share in Conran Holdings without his consent paying a peanut amount of 1254 Sterling pounds. It resulted in Desmond suing Sir Conran.
Sir Conran’ lawyers contention was according to the employment agreement Sir Conran has the power to vest with him the shares owned by Desmond when he left the employment. In 2006 when Desmond left the company the value of the shares owned by Desmond was 1254 pounds and the same amount was paid to him in 2014.
Desmond’s lawyer argued that the method of calculations were wrong, the current real value of the share in 2014 was three million pounds which Desmond rightfully entitled.
Desmond’s lawyers further argued that it was Desmond who transformed a company with an original turnover of just about ten million pounds into a 120 million pound turnover business venture. So, Desmond was entitled to the present market value of shares. Further, he expressed his client’s regret to sue a long-standing friend and business partner.
Media made headlines over the law wrangle between two major restaurant magnates. Reporters from major media agencies in London currently fill the gallery to hear the court proceedings.
Once Desmond expressed to London Telegraph, “My excellent knowledge in English stood in good stead, which I had in St. Joseph’s College back at home, to work in a western country like England. It obviously helped in my business too.
The judgement of his law suit against Sir Conron will be delivered in two weeks.. If he triumphs the case he will jump several slots up in the London Times’ richest list.
courtesy Sunday Rivira