+Chief,+Mr+Ong+Beng+Seng.jpg)
NO SUIT: Mr Ong told the sellers that he has not sued anyone in 30 years of doing business, say sources. -- BT FILE PHOTO
HOTEL Properties (HPL) chief Ong Beng Seng and his lawyers last night urged a group of Horizon Towers owners to cooperate in resolving the bungled $500 million collective sale of the condominium.
Mr Ong met the group at 4pm at Hilton Hotel yesterday - his first meeting with owners of the estate that he and his two partners are trying to buy.
HPL and partners are suing the Horizon Towers sellers for an alleged breach of contract and are seeking damages of more than $800 million.
The owners who met Mr Ong are anxious to avoid the potentially costly legal battle set to start next week. They had written to HPL earlier.
But a few others who had not written in turned up at the meeting and were eventually allowed in, sources said.
Lawyers from Allen & Gledhill, who represent the HPL-led consortium, were also present.
According to sources, Mr Ong told the Horizon Towers sellers that he has not sued anyone in 30 years of doing business.
He said that as HPL is a listed company and he has to protect shareholders, as well as his two partners, they added.
Mr Ong then told the sellers that they must have integrity, honour the contract and set a good example for their children.
Some sellers indicated at the meeting that they were keen to have Allen & Gledhill senior counsel K. Shanmugam participate at a major meeting to be held tonight.
The Horizon Towers sellers will have to decide on forming a sale committee and extending the sale deadline to allow the condominium's sale to go through. They plan to vote at the meeting to be held at the Raffles Town Club.
The HPL-led consortium urged the sellers to vote sensibly at the meeting tonight.
A group of about 50 sellers have written to other sellers to express their concerns that the meeting tonight has been called without proper notice.
No comments:
Post a Comment