THE Strata Titles Board (STB) on Friday ruled that the hotly-disputed en-bloc sale of Horizon Towers can proceed, despite objections from the minority owners.
STB has now heard the views of both majority and minority owners and has decided that the en-bloc sale of Horizon Towers can proceed. -- ST PHOTO: MAY LIN LE GOFFThe collective sale first hit the spotlight after the STB did not even hear the objections of the minority owners, on the basis of a technicality.
The buyers - Hotel Properties and its two partners - then threatened to sue the owners of Horizon Towers for not keeping up their side of the bargain.
After HPL extended the sale completion deadline to Dec 11, the owners asked the High Court to rule that the STB should not have thrown out the case in the first place, a decision which the court gave.
STB has now heard the views of both majority and minority owners and has decided that the sale can go ahead.
Although the majority owners can breathe a sigh of relief at averting a potential lawsuit, the minority owners could still file an appeal against the STB ruling.
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