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Thread: Horizon Towers: bid for judicial review fails

  1. #1
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    Default Horizon Towers: bid for judicial review fails

    Published June 19, 2007

    Sept hearing casts cloud over Horizon Towers deal

    Sellers have to grant extension if Strata Title Board approval not in by Aug 11

    By SIOW LI SEN


    (SINGAPORE) Hotel Properties Ltd's (HPL) $500 million purchase of Horizon Towers condominium in an en bloc sale now hangs in the balance as the Strata Titles Board (STB) has pencilled in an appearance of objectors to the sale in September, which passes a crucial Aug 11 deadline.



    Horizon Towers: With so many senior lawyers joining the fray, this is turning out to be the collective sale with the highest number of Singapore's top counsel involved


    Under the agreement, if STB approval is not given by Aug 11, which is six months after the signing of the agreement on Feb 12, 2007, there is a provision for an extension of another four months which can be given by the sellers at their discretion.

    If the sellers, who are represented by Horizon Towers' sales committee, refuse to grant an extension, the deal could be off.

    HPL has hired legal heavyweight K Shanmugam of Allen & Gledhill to protect its interests.

    At stake is HPL's paper profit of another $500 million - a result of the relentless climb in property prices.

    HPL group executive director Chris Lim confirmed that the company has taken on Mr Shanmugam. 'We have appointed Allen & Gledhill to protect our rights . . . we took a risk,' said Mr Lim.

    'If the price dropped, we would be legally bound to honour the agreement,' he said. 'We take our commitment seriously. It's not just HPL which is involved; there's also our partners, Morgan Stanley and the Qatari government,' said Mr Lim.

    In January, almost 84 per cent of owners of units in Horizon Towers signed the agreement to sell en bloc to Hotel Properties, Morgan Stanley Real Estate and the Qatar Investment Authority, the investment arm of the Emirate of Qatar, for $500 million.

    That meets the legal requirement of more than 80 per cent of owners assenting to a sale in the case of properties more than 10 years old.

    Those who didn't sign, the objectors, can appeal to the STB.

    At the time the agreement was signed, the $500 million price tag at $800 per square foot (psf) was the largest en bloc deal. However, neighbouring Grangeford Apartments, which is five years older, is currently asking for more than $2,000 psf.

    'Of course, now the market has appreciated and we are rewarded,' said Mr Lim.

    Last Friday, the STB registrar set the September date for the tribunal to hear the objectors to the sale with their battery of lawyers.

    The date was moved from initial tentative dates of July 25-29.

    It is understood that Philip Fong, senior partner at Harry Elias, hired by one of the objectors only last week, together with Tan Kok Quan Partnership, retained by other objectors, had told the registrar they needed more time for discovery and preparation.

    With so many senior lawyers getting into the fray, Horizon Towers is turning out to be the collective sale with the highest number of Singapore's top counsel involved.

    Senior Counsel Chelva Rajah of Tan, Rajah and Cheah is acting for a group seeking to oust the sales committee at an extraordinary general meeting, which was held last night.

    The meeting was adjourned with the owners agreeing to go to court to find out if the EGM has the power to remove the sales committee.

    This group had said they were not satisfied with the sales committee's performance, and complained about the committee not canvassing the views of the rest of the owners prior to the sale, despite the improved market conditions.

    The unhappy group members pointed out that nine months had passed from the time the sales committee had been elected to negotiate the sale and its eventual agreement.

    Jimmy Yim, Senior Counsel at Drew & Napier, which is handling the collective sale, had previously told BT that the EGM does not have the power to remove the sales committee.

    There have also been rumours that HPL is exploring paying more to the objectors, so that no more STB hearings would be needed - though that would likely kill off future en bloc sales in Singapore.

    'No developer would offer minorities extra money. If one does it, where does it end?' said a property broker.

    HPL's Mr Lim said: 'We're not in a position to offer more. We are committed to what we've signed.'

  2. #2
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    Default Re: Sept hearing casts cloud over Horizon Towers deal

    I think, If more than 80% have signed the agreement to sell , then they have to sell no matter how high is the property price today or otherwise it will be considered breach of contract. Even if you put 1000 lawyers to back you up you still lose the case. Thats the Law.

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    Default Re: Sept hearing casts cloud over Horizon Towers deal

    Under the agreement, if STB approval is not given by Aug 11, which is six months after the signing of the agreement on Feb 12, 2007, there is a provision for an extension of another four months which can be given by the sellers at their discretion.

    If the sellers, who are represented by Horizon Towers' sales committee, refuse to grant an extension, the deal could be off.


    So, on the basis that if STB approval is not granted by Aug 11, 2007 HPL may lose the deal through no fault of the company??????????????? What sort of condition is this? Why is this clause required in first place?

  4. #4
    Factual Guest

    Default Re: Sept hearing casts cloud over Horizon Towers deal

    Every developer worth his salt would know that any en-bloc sale is a conditional sale and is dependent on whether STB gives its approval or not. And whether STB gives its approval is dependent on whether the Strata Tiltle Act Act is followed closely or not.
    Therefore no confirmed unconditional deal has been made yet .
    The developer with top notch lawyers should have check and made sure that the en-bloc sale was done properly before they count their chickens and agreed to the four months deadline.

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    Default Re: Sept hearing casts cloud over Horizon Towers deal

    Assuming HPL lose the deal, can the company sue the lawyers, who was engaged on their behalf, for negligence?

  6. #6
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    Talking Re: Sept hearing casts cloud over Horizon Towers deal

    If HPL win this case, All horizon twr owners will be yearning and crying especially when they heard that The Ardmore sold for $2300. What can I say, This kind of thing does happen. Why did you signed it from the first place???

    Those 20% that reject the sale from the 1st place will find their blood pressure rising. lol

    My friend who live in elizabeth height I think, get an en bloc offer for about $3 million + for each unit around Jan 2007. They are lucky that they did not sign the contract.
    I heard they said other developers are already offering them $4 million + now.

    About $2200+ psf if Iam not wrong.
    Many developers are desperate looking for prime areas.

    I will not surprise to see more and more en bloc deal at above $2000 later this year.

  7. #7
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    Smile Re: Sept hearing casts cloud over Horizon Towers deal

    Its all because human beings tend to compare. At the end of the day, be happy with what you have. You will happier with the time spent. In any case, when you come to this earth empty handed when you go off, you can't bring anything along with you!!!!!!!!!!!!! Sigh, really don't understand human nature!!!!!!!!!!!!!!!

  8. #8
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    Default Earlier date set for hearing on Horizon Towers' sale

    June 20, 2007

    Earlier date set for hearing on Horizon Towers' sale

    Strata Titles Board said to have set aside five days next month, before deal's deadline

    By K.C. Vijayan, Law Correspondent


    THE hearing on the disputed Horizon Towers en bloc sale has been brought forward to next month, thus averting fears that the $500 million deal could be derailed by a closure deadline.

    Collective sale agreements have to be closed within six months of being signed or go back to the sales committee - a potentially divisive procedure that can kill a sale.

    That gave Horizon Towers - its deal was agreed on Feb 12 - a cut- off date of Aug 11. But that raised a serious problem for the sellers as the dispute hearing was not scheduled to be held until September.

    But The Straits Times learnt yesterday from a reliable source that the Strata Titles Board had rescheduled the hearing for five days, starting on July 26.

    The two blocks at Leonie Hill have been pledged to be sold en bloc for $500 million to Hotel Properties (HPL), Morgan Stanley Real Estate and Qatar Investment Authority, the investment arm of the Emirate of Qatar.

    The deal won backing from 84 per cent of the owners - exceeding the 80 per cent requirement - but it still needs approval from the Strata Titles Board.

    Since that initial agreement, eight owners have objected to the sale. Efforts by the board to broker a compromise have come to nought, so a full hearing has been called.

    It is understood that the dissenters object in principle to procedures leading up to the sale and not to the actual price offered.

    But their sentiments are shared by several other unit owners who initially consented to the sale but are now unhappy over the price.

    They point to the recent property boom that has seen the neighbouring Grangeford Apartments, which is five years older than Horizon, going for an asking price of more than $2,000 per sq ft (psf).

    This dwarfs the $800 psf agreed for Horizon Towers.

    The mood now is in stark contrast to the rejoicing late last year, when the owners were jubilant at the price the 23-year-old Horizon Towers had fetched.

    Most owners in the 199 apartments in the 210-unit estate would walk out with about $2.3 million, while owners of the 11 penthouses would reap $4 million or more.

    If the deal fails to meet the Aug 11 deadline, the initial deposit advanced to the sellers would have to be returned but it is unclear if they would face any liabilities if the sale does not go through.

    Senior Counsel Jimmy Yim of Drew & Napier, who is acting for the sellers, said yesterday: 'This is not a straightforward situation.'

    He declined to comment on what would happen if the sale is aborted.

    On Monday, more than 100 residents attended an extraordinary general meeting that sought to replace the existing sales committee.

    Senior Counsel C.R. Rajah of Tan, Rajah and Cheah, who is acting for several owners, said they had a right to convene the meeting and decide who should represent them. But he stressed that the meeting had nothing to do with calling off the contract to sell the property.

    One resident suggested that the existing committee resign en masse to enable others to be appointed. Another expressed concern over legal costs if the move triggered legal action by the buyers.

    'I would prefer not to be sued and I would want my money faster,' said one resident.

    Another resident feared that a new sales committee could raise legal questions and add to the general uncertainty over whom residents had to deal with.

    Former Nominated Member of Parliament and senior lawyer Shriniwas Rai, who is representing a client-owner, proposed that the meeting be adjourned for six weeks to allow the differing parties to resolve the matter amicably. The suggestion was taken up by residents.

    Senior Counsel K.Shanmugam of Allen & Gledhill, who is acting for HPL, said when contacted yesterday: 'There is a contract and we are expecting the contract to be fulfilled.'

    [email protected]

  9. #9
    Factual Guest

    Default Re: Earlier date set for hearing on Horizon Towers' sale

    There seem to be two different story on the outcome of the EGM. One is that the matter of electing a new Sales Committe will be referred to the court and the other is for the differing parties to settle the matter amicably within 6 weeks. I wonder which is the real outcome?
    I also wonder why the STB originally set the hearing in Sept and then decide to change it to July. Is it to meet the deadline? Didn't they know that there was a deadline in the first place?

  10. #10
    Unregistered Guest

    Default Re: Earlier date set for hearing on Horizon Towers' sale

    Quote Originally Posted by mr funny
    June 20, 2007

    Earlier date set for hearing on Horizon Towers' sale

    Strata Titles Board said to have set aside five days next month, before deal's deadline

    By K.C. Vijayan, Law Correspondent


    THE hearing on the disputed Horizon Towers en bloc sale has been brought forward to next month, thus averting fears that the $500 million deal could be derailed by a closure deadline.

    Collective sale agreements have to be closed within six months of being signed or go back to the sales committee - a potentially divisive procedure that can kill a sale.

    That gave Horizon Towers - its deal was agreed on Feb 12 - a cut- off date of Aug 11. But that raised a serious problem for the sellers as the dispute hearing was not scheduled to be held until September.

    But The Straits Times learnt yesterday from a reliable source that the Strata Titles Board had rescheduled the hearing for five days, starting on July 26.

    The two blocks at Leonie Hill have been pledged to be sold en bloc for $500 million to Hotel Properties (HPL), Morgan Stanley Real Estate and Qatar Investment Authority, the investment arm of the Emirate of Qatar.

    The deal won backing from 84 per cent of the owners - exceeding the 80 per cent requirement - but it still needs approval from the Strata Titles Board.

    Since that initial agreement, eight owners have objected to the sale. Efforts by the board to broker a compromise have come to nought, so a full hearing has been called.

    It is understood that the dissenters object in principle to procedures leading up to the sale and not to the actual price offered.

    But their sentiments are shared by several other unit owners who initially consented to the sale but are now unhappy over the price.

    They point to the recent property boom that has seen the neighbouring Grangeford Apartments, which is five years older than Horizon, going for an asking price of more than $2,000 per sq ft (psf).

    This dwarfs the $800 psf agreed for Horizon Towers.

    The mood now is in stark contrast to the rejoicing late last year, when the owners were jubilant at the price the 23-year-old Horizon Towers had fetched.

    Most owners in the 199 apartments in the 210-unit estate would walk out with about $2.3 million, while owners of the 11 penthouses would reap $4 million or more.

    If the deal fails to meet the Aug 11 deadline, the initial deposit advanced to the sellers would have to be returned but it is unclear if they would face any liabilities if the sale does not go through.

    Senior Counsel Jimmy Yim of Drew & Napier, who is acting for the sellers, said yesterday: 'This is not a straightforward situation.'

    He declined to comment on what would happen if the sale is aborted.

    On Monday, more than 100 residents attended an extraordinary general meeting that sought to replace the existing sales committee.

    Senior Counsel C.R. Rajah of Tan, Rajah and Cheah, who is acting for several owners, said they had a right to convene the meeting and decide who should represent them. But he stressed that the meeting had nothing to do with calling off the contract to sell the property.

    One resident suggested that the existing committee resign en masse to enable others to be appointed. Another expressed concern over legal costs if the move triggered legal action by the buyers.

    'I would prefer not to be sued and I would want my money faster,' said one resident.

    Another resident feared that a new sales committee could raise legal questions and add to the general uncertainty over whom residents had to deal with.

    Former Nominated Member of Parliament and senior lawyer Shriniwas Rai, who is representing a client-owner, proposed that the meeting be adjourned for six weeks to allow the differing parties to resolve the matter amicably. The suggestion was taken up by residents.

    Senior Counsel K.Shanmugam of Allen & Gledhill, who is acting for HPL, said when contacted yesterday: 'There is a contract and we are expecting the contract to be fulfilled.'

    [email protected]
    Dont' understand why Senior Counsel Jimmy Yim of Drew & Napier, who is acting for the sellers, said yesterday: 'This is not a straightforward situation.'?

  11. #11
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    Default Horizon Towers sale: Sept hearing date not changed

    Published June 21, 2007

    Horizon Towers sale: Sept hearing date not changed

    By SIOW LI SEN


    THE Strata Titles Board (STB) has not changed the September date for the appearance of objectors to the $500 million Horizon Towers en bloc sale which is after a crucial Aug 11 deadline.

    Philip Fong, senior partner at Harry Elias, hired last week by five objectors to the en bloc sale, told BT yesterday that 'no fresh directions have been given from last Friday'.

    The STB last Friday had pencilled in an appearance of objectors to the sale in September, which was moved from initial tentative dates of July 25-29. This came after Mr Fong had told the registrar he needed more time for discovery and preparation.

    But representation has since been made to move the date back to July, a very reliable source told BT.

    Drew & Napier, which is handling the collective sale, is understood to have made the representation as the agreement with the buyer - Hotel Properties and two partners - says that the sellers have to apply for STB approval by Aug 11.

    Under the agreement, if STB approval is not given by Aug 11, which is six months after the signing of the agreement on Feb 12, 2007, there is a provision for an extension of another four months which can be given by the sellers at their discretion.

    If the sellers, who are represented by Horizon Towers' sales committee, refuse to grant an extension, the deal could be off.

    Said Mr Fong: 'Due process must be given. The objectors are really defending a legitimate interest which is their homes and they should be allowed to fully air their issues before the board, and should not be hurried,' said Mr Fong.

    Meanwhile, a female security guard at the posh condominium has filed a police report against a resident for inappropriate behaviour.

    The guard, Ms Tamilmani, told BT last night she has now been banned from Horizon Towers. 'My boss told me that I will be transferred temporarily for safety reasons. It is very unfair, I am the victim,' she said.

    A police spokesman told BT that 'a police report was lodged on 13 June 2007 at 8pm about a case of inappropriate behaviour by a man at an apartment along Leonie Hill.

    'Police investigations are ongoing,' he added.

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    Default Horizon Towers hearing dates brought forward

    July 6, 2007

    Horizon Towers hearing dates brought forward

    Case on disputed collective sale will be heard from July 27 to Aug 2

    By K.C.Vijayan, Law Correspondent


    SIX-MONTH DEADLINE: The initial hearing was set for September but that was after the deadline - the $500 million deal was struck on Feb 12 and must be sealed by Aug 11. -- BT FILE PHOTO

    THE Strata Titles Boards (STB) will try to untangle the contentious Horizon Towers collective sale later this month - and before the deal is aborted by a closure deadline.

    A ruling on Wednesday set the hearing dates for July 27 to Aug 2, confirming a move outlined in a report in The Straits Times two weeks ago.

    The initial hearing was set for September but that was after the six-month deadline - the $500 million deal was struck on Feb 12 and must be sealed by Aug 11.

    A deadline miss could have killed the deal or tied it up in a lengthy process involving the sales committee.

    Bringing forward the hearing to late this month - after a series of legal arguments was put to the STB recently by lawyers representing various parties - has eased those fears.

    They included Senior Counsels Jimmy Yim, C.R.Rajah and K.Shanmugam and senior lawyers from Tan Kok Quan & Partners and Harry Elias Partnership.

    The two blocks at Leonie Hill have been pledged to be sold en bloc for $500 million to Hotel Properties (HPL), Morgan Stanley Real Estate and Qatar Investment Authority, the investment arm of the Emirate of Qatar.

    The deal was backed by 84 per cent of the owners - above the 80 per cent requirement - but it still needs STB approval.

    Rebellious owners have a range of objections, including price.

    They also wanted the sales committee to be replaced, but an extraordinary general meeting called for the purpose did not produce the result. It is understood that some of the members have since resigned, including the chairman.

    Some owners had wanted the sales committee members out because they were unhappy at the way the deal went through last January without getting back to the owners over the $500 million offer price.

    They pointed out that the price was set in April last year but the property was sold nine months later when real estate values had surged - so much so that neighbouring Grangeford Apartments sold for far more than the amount that Horizon Towers commanded.

    The parties who never agreed to the sale will get their say at the hearing later this month, but there are concerns that the mediation process may drag on longer than the allocated dates and brush up against the Aug 11 deadline.

    'There are those who originally agreed to the sale having second thoughts and this may lead to problems,' said a source.

    [email protected]

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    Default Re: Horizon Towers hearing dates brought forward

    Published July 17, 2007

    Horizon Towers hearing: minorities for judicial review

    By WEE LI-EN


    MORE uncertainty looms over Hotel Property's (HPL) $500 million purchase of Horizon Towers. The minority owners of the condominium applied to the High Court last week for leave to apply for judicial review of the Strata Titles Board's (STB) decision to have the hearing this month.

    The two blocks at Leonie Hill have been pledged to be sold enbloc for $500 million to HPL, Morgan Stanley Real Estate and Qatar Investment Authority, the investment arm of the Gulf Arab state of Qatar.

    The deal was backed by 84 per cent of the owners - above the 80 per cent requirement - but it still needs approval from the STB. The STB had scheduled the hearing for September but rescheduled it for five days starting on July27.

    The timing of the STB hearing is crucial as the $500 million deal must be sealed by Aug11, six months after the signing of the agreement on Feb12 . If the deadline is missed, the deal could fall through as the sellers may refuse to extend the deadline.

    The application by the minority owners for leave to apply for judicial review was scheduled to be heard on Thursday. However, it is now uncertain when their application will be heard. A check with the Supreme Court website yesterday shows that their hearing has been struck off the list of originating summonses and summonses to be heard on Thursday before Justice Lee Seiu Kin.

    To get leave to apply for judicial review, the minority owners will need to satisfy the court that they have an arguable case for review. Their primary complaint is believed to be that they do not have sufficient time to prepare their case given the earlier hearing dates.

    The minority owners are represented by Kannan Ramesh and Karam Parmar from Tan Kok Quan Partnership and Philip Fong from Harry Elias Partnership.

  14. #14
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    Default Re: Horizon Towers hearing dates brought forward

    Quote Originally Posted by mr funny
    Published July 17, 2007

    Horizon Towers hearing: minorities for judicial review

    By WEE LI-EN


    MORE uncertainty looms over Hotel Property's (HPL) $500 million purchase of Horizon Towers. The minority owners of the condominium applied to the High Court last week for leave to apply for judicial review of the Strata Titles Board's (STB) decision to have the hearing this month.

    The two blocks at Leonie Hill have been pledged to be sold enbloc for $500 million to HPL, Morgan Stanley Real Estate and Qatar Investment Authority, the investment arm of the Gulf Arab state of Qatar.

    The deal was backed by 84 per cent of the owners - above the 80 per cent requirement - but it still needs approval from the STB. The STB had scheduled the hearing for September but rescheduled it for five days starting on July27.

    The timing of the STB hearing is crucial as the $500 million deal must be sealed by Aug11, six months after the signing of the agreement on Feb12 . If the deadline is missed, the deal could fall through as the sellers may refuse to extend the deadline.

    The application by the minority owners for leave to apply for judicial review was scheduled to be heard on Thursday. However, it is now uncertain when their application will be heard. A check with the Supreme Court website yesterday shows that their hearing has been struck off the list of originating summonses and summonses to be heard on Thursday before Justice Lee Seiu Kin.

    To get leave to apply for judicial review, the minority owners will need to satisfy the court that they have an arguable case for review. Their primary complaint is believed to be that they do not have sufficient time to prepare their case given the earlier hearing dates.

    The minority owners are represented by Kannan Ramesh and Karam Parmar from Tan Kok Quan Partnership and Philip Fong from Harry Elias Partnership.
    Not sure what's the implication of this article. Who benefits from this development - the developer or the minority Horizon owners??? Can anyone advise? Thanks.

  15. #15
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    Default Horizon Towers: bid for judicial review fails

    Published July 21, 2007

    Horizon Towers: bid for judicial review fails

    This means the dates of the STB hearing will remain on July27 to Aug2

    By WEE LI-EN


    THE minority owners of Horizon Towers, which has been pledged to be sold en bloc for $500 million, have failed in their first step to get judicial review of the Strata Titles Boards' (STB) decision.

    This means that the dates of the STB hearing, at which the board will decide whether or not to approve the en bloc sale, will remain on July27 to Aug2.

    The hearing was scheduled for September, but STB decided to bring forward the dates.

    The minority owners of the condominium then applied to the High Court seeking leave to apply for judicial review of STB's decision to bring the hearing forward. Their primary complaint is believed to be that they do not have enough time to prepare their case given the earlier dates.

    The timing of the STB hearing is crucial as the $500 million deal must be sealed by Aug11, six months after the signing of the agreement on Feb12.

    If the deadline is missed, the deal could fall through as the sellers may refuse to extend the deadline.

    However, the court yesterday rejected the minority owners' application for leave.

    Horizon Towers, on Leonie Hill, has been pledged to be sold en bloc for $500 million to Hotel Property (HPL), Morgan Stanley Real Estate and Qatar Investment Authority, the investment arm of the Gulf Arab state of Qatar.

    The deal was backed by 84 per cent of the owners - above the 80 per cent requirement - but it still needs approval from the STB.

    The buyers are represented by senior counsel KShanmugam and William Ong from Allen & Gledhill.

    The minorities are represented by Kannan Ramesh and Karam Parmer from Tan Kok Quan Partnership, and Philip Fong from Harry Elias Partnership.

  16. #16
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    Default Re: Horizon Towers: bid for judicial review fails

    July 21, 2007

    HORIZON TOWERS EN BLOC SALE

    Minority owners' bid to buy time fails

    By K. C. Vijayan, Law Correspondent


    IN YET another twist to the controversy over the collective sale of the Horizon Towers condominium, a High Court bid by minority owners for more time to present their case to the Strata Titles Board has failed.

    The minority owners, who object to the sale, wanted a judicial review of the board's decision not to postpone a hearing.

    They will now have to present their case next week instead of in September as they had wanted.

    The $500 million deal for the two blocks at Leonie Hill, which was struck on Feb 12, has to be finalised by Aug 11. If the High Court had ruled in favour of the minority owners, the deal would have been effectively scuttled.

    The 99-year leasehold property has been pledged to be sold en bloc to HPL and two others.

    The deal was backed by 84 per cent of the owners. This is above the 80 per cent requirement, but it still needs the approval of the Strata Titles Board. Previously, the board set the hearing for September, but later moved it forward.

    Through lawyers from Tan Kok Quan Partnership and Harry Elias Partnership, the minority owners sought leave from the High Court for a judicial review of the board's decision to bring the hearing forward.

    But according to court documents filed by the purchasers, the deal would have been scuttled if the objectors' request had been granted.

    The purchasers, who were represented by Senior Counsel K. Shanmugam, argued that if this happened, the majority owners who consented to the sale would be unlikely to extend the deadline for the en bloc deal.

    Both majority and minority owners alike do not want the deal to go ahead at $500 million. This is because a rise in market prices after the agreement was reached means that there is every possibility that they can now sell the property to another buyer at a significantly higher price.

    The minority owners argued in their submissions that the board's decision gave them inadequate time to present their case.

    But the purchasers countered that the minority owners actually had three months to prepare, citing the lengthy documents the objectors prepared for yesterday's hearing.

    The Straits Times understands that during the High Court chamber hearing, the minority owners failed to convince Justice Tan Lee Meng that they had an arguable case which deserved judicial review.

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