Troubled Towers: A timeline
October 2005: Some Horizon Towers owners moot idea of collective
sale and kick off process.
March 2006: Two of them, Mr Arjun Samtani and Mr Tan Kah Gee, buy
more units.
April 2006: Sale process formally launched. Within three months,
the sale committee - which includes Mr Samtani and Mr Tan - obtains
consent level for a sale.
May 2007: Some majority owners circulate a letter asking neighbours
to band together to back out of deal.
August 2007: Strata Titles Board (STB) throws out collective sale.
HPL sues majority owners.
January 2007: Hotel Properties Limited (HPL) and partners agree to
buy estate for $500 million, or about $800 per sq ft (psf) of potential
gross floor area.
April 2007: Neighbouring Grangeford Apartments sets a record asking
price of $2,016 psf.
September 2007: Sale committee quits, leaving deal in limbo. HPL
chief Ong Beng Seng meets owners to discuss sale, after which owners vote
to extend sale deadline. About a week later, owners go to High Court to
reverse STB’s dismissal of the sale. HPL adjourns its suit against the
owners.
October 2007: High Court judge Choo Han Teck overturns STB’s ruling
to abort deal. The majority owners go back to STB in second attempt to get
approval for sale.
December 2007: STB approves sale this time around.
January 2008: Nine sets of minority owners appeal to High Court to
overturn STB’s decision. When hearing starts two months later, two sets of
minority owners drop out.
July 2008: Justice Choo dismisses minority owners’ appeal.
February 2009: Four of the remaining sets of minority owners make a
last-ditch attempt to save their homes by taking the fight up to the Court
of Appeal.
April 2, 2009: The Court of Appeal, comprising Chief Justice Chan
Sek Keong and Judges of Appeal Andrew Phang and V.K. Rajah, finally
rejects sale for good, noting various errors by the sale committee, STB
and High Court.
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