Horizon Towers sale won't go ahead

[makapaaa]

Horizon Towers sale won't go ahead

By UMA SHANKARI
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After a protracted battle that lasted more than two years, the minority owners of Horizon Towers have finally gotten their wish - the $500 million collective sale of the property to Hotel Properties Limited (HPL) and its partners has been called off.

Singapore's Court of Appeal on Thursday dismissed the en bloc sale after four owners appealed to it to throw out a High Court decision handed down last July that backed the property's sale of the property to HPL and partners Morgan Stanley Real Estate and Qatar Investment Authority.
The Court of Appeal's decision is the final decision on the matter, which means that the acquisition of the property will not proceed.

 

[Gillette]

Presumably these four owners are sufficiently well rewarded by HPL, Morgan Stanley Real Estate and Qatar Investment Authority to create trouble to stop the enbloc sale from going through after the property market collapsed. Otherwise these four must be the biggest idiots around and will forever be cursed by other owners in Horizon Towers. Strange that their names were not published.

 

[mscitw]

well connected to lackeys and minions who managed to get their arses buttered.

only in peasantpore, where they tolerate dynastic successions, procedural elections and autocratic rule by a well entrenched familee.