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Thread: Cross-appeal filed for Gillman enbloc

  1. #1
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    Default Cross-appeal filed for Gillman enbloc

    http://www.businesstimes.com.sg/sub/...89380,00.html?

    July 25, 2008, 6.01 pm (Singapore time)

    Cross-appeal filed for Gillman enbloc


    SINGAPORE - Ankerite Pte Ltd, the entity that purchased Gillman Heights Condominium, has filed a cross-appeal to the Court of Appeal.

    Previously, the High Court has dismissed an appeal by minority owners of Gillman Heights to stop the $548 million (US$402 million) sale of the development to CapitaLand, Hotel Properties and two private funds.

    The Strata Titles Board (STB) had approved the collective sale of the 607-unit, 99-year leasehold estate late last year. But a group of minority owners, had appealed that decision.

    Ankerite, an indirect associated company of Capitaland, is 50 per cent owned by CRL Realty, with the balance shareholding held by HPL Orchard Place and two private funds.

    Capitaland said yesterday that further details will be announced in due course.

    The STB had approved the collective sale of the 607-unit, 99-year leasehold estate late last year. -- LEE U-WEN, BT NEWSROOM

  2. #2
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    http://www.straitstimes.com/Money/St...ry_261445.html

    July 26, 2008

    COLLECTIVE SALE

    CapitaLand appeal on Gillman deadline


    CAPITALAND, the lead buyer of Gillman Heights, has asked the Court of Appeal to review one point of a High Court ruling that allowed the estate's collective sale to proceed.

    Its move comes after a group of 10 minority owners from the estate filed an appeal over the sale earlier this week.

    CapitaLand bought the $548 million Gillman Heights site together with Hotel Properties and two private funds. The sale was opposed by some owners but was eventually given the go-ahead by the High Court.

    But in dismissing the objecting owners' appeal, the Court also ruled that the sale committee could not agree to extend the deadline for obtaining the Strata Titles Board's approval to Feb 5.

    This was despite a supplemental collective sale agreement that had made a valid extension of the deadline to this date.

    It is this point that CapitaLand is focusing on. Its legal move is to protect itself if the point is raised by the minority owners at the court hearing.

    A spokesman said: 'The filing of the cross-appeal is primarily technical and the aim is to preserve and strengthen our position in the Court of Appeal hearing.'

    JOYCE TEO

  3. #3
    tukwa
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    Default when is the appeal

    anybody knows when the appeal will be heard?

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