The Strata Titles Board (STB) has not changed the September date for the appearance of objectors to the $500 million Horizon Towers en bloc sale

The Strata Titles Board (STB) has not changed the September date for the appearance of objectors to the $500 million Horizon Towers en bloc sale which is after a crucial Aug 11 deadline.

Philip Fong, senior partner at Harry Elias, hired last week by five objectors to the en bloc sale, told BT yesterday that ‘no fresh directions have been given from last Friday’.

The STB last Friday had pencilled in an appearance of objectors to the sale in September, which was moved from initial tentative dates of July 25-29. This came after Mr Fong had told the registrar he needed more time for discovery and preparation.

But representation has since been made to move the date back to July, a very reliable source told BT.

Drew & Napier, which is handling the collective sale, is understood to have made the representation as the agreement with the buyer - Hotel Properties and two partners - says that the sellers have to apply for STB approval by Aug 11.

Under the agreement, if STB approval is not given by Aug 11, which is six months after the signing of the agreement on Feb 12, 2007, there is a provision for an extension of another four months which can be given by the sellers at their discretion.

If the sellers, who are represented by Horizon Towers’ sales committee, refuse to grant an extension, the deal could be off.

Said Mr Fong: ‘Due process must be given. The objectors are really defending a legitimate interest which is their homes and they should be allowed to fully air their issues before the board, and should not be hurried,’ said Mr Fong.

Meanwhile, a female security guard at the posh condominium has filed a police report against a resident for inappropriate behaviour.

The guard, Ms Tamilmani, told BT last night she has now been banned from Horizon Towers. ‘My boss told me that I will be transferred temporarily for safety reasons. It is very unfair, I am the victim,’ she said.

A police spokesman told BT that ‘a police report was lodged on 13 June 2007 at 8pm about a case of inappropriate behaviour by a man at an apartment along Leonie Hill.

‘Police investigations are ongoing,’ he added.

Source: The Business Times, 21 June 2007