Published April 12, 2007

Eng Lok Mansion sale hits snag

Napier Properties makes formal demand for late completion interest, matter going to court


THE collective sale of Eng Lok Mansion appears to have hit another snag. And this time, all the owners could be involved.

A bump on the road: Napier Properties is claiming interest of $136,109.60 from the previous owners for late completion

According to court papers obtained by BT, Napier Properties, which bought Eng Lok Mansion in March 2006 for a then record price of $138 million, is claiming interest of $136,109.60 from the previous owners for late completion.

The completion date was originally to be Jan 12. But it appears that owners of five units failed to provide all the documentation needed to transfer titles of their units on time.

It is understood the Eng Lok Mansion transaction has since been completed with 95 per cent of the agreed sum paid. However, Napier Properties has made a formal demand for late completion interest and the matter will be heard in the Subordinate Courts tomorrow.

A sale committee was authorised to act for the owners. And three members of that committee - Tan Hui Peng, Francis Lim Ewe Cheng and Goh Ban Hock Andrew - are named in Napier Properties' writ of summons filed on March 12.

The law firm acting on behalf of Napier Properties, Rodyk & Davidson, declined to comment because the matter is 'presently before the courts'.

Lawyers representing the sale committee, De Souza Tay & Goh, also declined to comment.

Only one vendor contacted by BT would comment. Told that Napier Properties was claiming interest, Chow Ai Hwa said: 'I have not received any money yet so I can refuse to move.'

Ms Chow previously tried to block the sale of Eng Lok Mansion. She took the matter up with the Strata Titles Board, which decided she had no grounds for objecting. She said then she would take the matter to the High Court but has not done so yet.