Friday, July 18, 2008

Dissenters Of Horizon Towers En-Bloc Sale Lose Appeal

Source : The Straits Times, July 17, 2008

THE drawn-out collective sale of Horizon Towers finally came to a close on Thursday when the High Court threw out the appeal of the objecting owners, allowing it to proceed.

This means that Hotel Properties (HPL) and its two partners can now complete the $500 million collective sale of the Leonie Hill estate, if the objecting owners do not appeal against the High Court's decision.

It has been one-and-a-half years since the deal was inked.

High Court judge Choo Han Teck on Thursday said he was of the view that there was no error of law that would have corrupted the decision of the Strata Titles Board (STB), which had allowed the sale to proceed.

No comments: