Residents of Gillman Heights condominium could learn by Wednesday if the S$548 million collective sale of their estate – to CapitaLand, Hotel Properties and two private funds – will go ahead.
That is when the Court of Appeal is expected to decide whether the law governing collective sales should have applied to former Housing and Urban Development Corporation (HUDC) estates, such as Gillman Heights, prior to last year’s amendments.
And if so, what date should be used to determine the age of the condominium for the purpose of deciding whether 80 or 90 per cent of the owners need to consent to the en bloc sale.
About 87 per cent of owners had consented to the collective sale.
Last June, ten minority owners had unsuccessfully appealed in the High Court against the Strata Titles Board’s decision to allow the sale to proceed.
Representing them, Senior Counsel Michael Hwang argued in the Court of Appeal on Tuesday that the sale needed 90 per cent consent since the estate only received its Certificate of Statutory Completion in 2002.
Lawyer for the purchasers, Senior Counsel Andre Yeap, disagreed, saying that the development was much older as it had been completed in the mid-eighties.
Chief Justice Chan Sek Keong, Judges of Appeal Justice Andrew Phang and Justice V K Rajah are expected to deliver their judgement on Wednesday afternoon.
Source : Channel NewsAsia – 3 Feb 2009