Objectors have been fighting for two years now to have the $500 million collective sale of their Leonie Hill estate called off. -- PHOTO: ST
THERE will not be a Friday ending to the Horizon Towers collective sale saga.
The Supreme Court said on Thursday that the Court of Appeal's decision will not be delivered on Friday, as earlier planned.
'Parties will be notified in due course,' it said in a statement.
This could be next week or in a fortnight's time.
Objectors have been fighting for two years now to have the $500 million collective sale of their Leonie Hill estate called off.
Chief Justice Chan Sek Keong, Judge of Appeal Andrew Phang and V K Rajah heard their case on Tuesday afternoon.
They had asked for new documents and now wanted more time to consider the case. The new documents included caveats of deals for additional units purchased by three sale committee members in the initial stages of the collective sale talks.
Objectors had said these sale committee members acted in bad faith in influencing the committee's decision to sell to the Hotel Properties-led consortium.
CJ Chan had said the purchase of additional units showed the members wanted to take advantage of the collective sale and may not be in bad faith. But Justice Rajah had said that it depended on whether they had taken financing for the additional units and needed to sell quickly.
