At first, only 25 of the 31 owners signed on the dotted line. But when developer Allgreen later managed to get the remaining Regent Garden owners on board, it meant the en bloc sale of the condominium had unanimous consent.
That meant the Strata Titles Board should not have heard the objections of the initial group of majority owners and its dismissal in January of the $34-million collective sale was irrelevant, according to the High Court, which gave the green light yesterday for the sale.
The case was a first-of-its-kind in which majority owners, after agreeing last April to the en bloc sale, sued the developer. They argued that Allgreen had overstated the development charge, thus depressing the sale price and alleged that it gave “disproportionately high” proceeds to win over the six erstwhile minority owners.
Allgreen, represented by lawyer Davinder Singh, charged that these claims “were nothing but an attempt to reopen a concluded bargain”.
The High Court ruled that allegations against Allgreen of a breach of contract were without merit and ordered the majority owners to complete the sale on May 16. When contacted, a majority owner who participated in the legal action said that the majority owners would hold a meeting today to discuss their next step.
Souce : Today – 17 Apr 2008