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Property Recovery Professionals Association warns of snowballing effect on economy due to willful defaulters
The Island
|October 28, 2025
If individuals who have purchased property, using loans from banks or financial institutions, fail to repay those loans, there is a risk of banks and financial institutions collapsing, Secretary of the All Island Property Recovery Professionals Association, Priyantha Liyanage, said yesterday (27).
All Island Property Recovery Professionals Association, Priyantha Liyanage, addressing the press. Exco members of the Association are also in the picture
Speaking at a media briefing at NM Perera Centre, in Colombo, he said that some institutions have already collapsed in the country.
Liyanage warned that the collapse of banks, or financial institutions, would not only affect the institutions themselves but also leave those who have deposited money in those banks, stranded and helpless.
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