The meeting at Holiday Inn Parkview Hotel was meant for the Horizon Towers majority owners to think of ways to fight a looming lawsuit filed against them by the buyers of a botched $500-million-deal.Instead, it ended in disarray when the three remaining sale committee members stunned the 200-odd residents present with the news that they were quitting.
One of them, a woman in her 30s, told Channel NewsAsia that she “couldn’t take it anymore” after receiving threats from her neighbours.
The majority owners face a potential $1-billion lawsuit after the buyers – Hotel Properties (HPL), Morgan Stanley Real Estate and Qatar Investment Authority – sued them for loss profits.
Lawyer Shriniwas Rais, who was present and was representing some of the majority owners, told TODAY: “It’s quite bad. There’s no sale committee now. Who’s going to instruct the owners?”
At around 11pm on Friday, two-and-a-half hours after the meeting started, pockets of residents lingered on, locked in intense discussions. — LOH CHEE KONG
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