Source : Weekend Today - 19 Jul 2008
I REFER to “Landmark ruling” (July 18).
The judge has ruled that the fact that a higher offer was received for the en bloc sale of Horizon Towers is not within the purview of the Strata Title Board (STB); neither are any allegations of less-than-stellar conduct among the parties.
And that if the STB has to hear such matters, it would never get its job done.
So, if I get an offer for my home of say, $7 million and the en bloc sales committee of my condo gets an offer of $5 million, would my recourse be to sue in the courts while the STB can rule in favour of the $5-million sale and proceed? This defies logic and good business sense.
Moreover, if the STB is not equipped to handle matters pertinent to good faith, the highest sale price, the conduct of sales committee, et cetera, it is time that the approval of en bloc sales be given to a specialised legal tribunal which is equipped to do so.
Further, if the Land Titles (Strata) Act does not provide sufficient coverage to protect the rights of a subsidiaryproprietor who expects a fair and holistic hearing of their grievances, it is time for all en bloc sales to be held inabatement until such matters can be seriously addressed.
Horizon Towers is a mega test case for en bloc sales and it is time to take stock of our laws.
Ong Cher Meng
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