The Strata Titles Board (STB) will adjudicate in the contentious sale application of Horizon Towers starting from the 30^th of this month. The STB is hearing the case again after the High Court overturned an earlier decision of the STB last Thursday.

The STB may make its decision before the end of next month, which should still allow for sufficient time for the collective sale to go through before the extended deadline expiring on 11 Dec.

If the $500 million sale of this estate is not completed by 11 Dec, the deal could be off. Then the buyer, a HPL led consortium may sue the majority owners for breach of contract and for potential losses of S$1 billion. It is reported that lawyers from Allen & Gledhill, which are representing the intended buyers, have applied to the STB to be a party at the hearing of STB. A decision on this is expected next Monday.

It is also reported that the minority owners are also considering an appeal against the decision of the High Court.