HORIZON TOWERS

It seems like the Horizon Towers saga was ticking away in the background all this while.

A new judgement just out ; 

Five plaintiffs (objecting minority owners) seeking equitable compensation against two defendants (sale com. members) for breaches of fiduciary duties. 

In other words they want their legal costs fully recovered... costs which run into the hundreds of thousands.

I haven't read it yet - just skipped to the end where it said the judge dismissed the plaintiff claims (ie they lost).

Look for it on the Supreme Court website under recent judgements:

Then Khek Koon and another v Arjun Permanand Samtani and another and other suits - [2013] SGHC 213

or here

Gilstead Court New Row

Marketing Agents BEWARE

 I believe head(s) rolled at the HSR agency; careers ruined, people sacked.  Complaints were made to the Council of Estate Agents (CEA).

The paper failed to point out that the extra payment made to the 6 minority in the Regent Garden case was not about reaching the 80% consensus level, but  payment to withdraw their objection at the STB, thus clearing the way for the sale to go through.

Mind you, extra payments should not be encouraged across the board. The former Supreme Court judge is quite right in saying "It is necessary to outlaw such behavior as a form of corruption, with possible criminal, as well as civil sanctions". However,  it is also ironic that this same former Supreme Court judge is enmeshed in his own en bloc debacle (Gilstead Court) whereby the CSA was fashioned in a way which effectively penalized the minority for not signing the CSA.  Thereby ensuring an unfair distribution of proceeds - the majority get more, the minority less.  It is actually worse than it sounds; taking money from the minority and divvying it up amongst the majority...  read the media report here