To avoid a potentially costly legal battle, some owners have approached the HPL led consortium (with Morgan Stanley Real Estate-managed funds and Qatar Investment Authority)to resolve the disputed collective sale for Horizon Towers. These owners are hoping to sell their units to the HPL led consortium at the same contracted agreed collective sale price of about $2.3 million.

On another hand, another group of the majority owners are considering to extend the sale completion date and have called for an Extra-ordinary General Meeting to resolve this and to elect a new sales committee (the previous sales committee resigned on 7 September 2007).

Others are still waiting for the High Court hearing next Friday (28/9/2007) on their appeal against the Strata Titles Board (STB) ruling which dismissed the collective sale on technical grounds.

This is likely to be a landmark decision for collective sale. Watch this column.