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1. Written by News on 22-04-2008 21:28
En bloc sale called off
Developer, majority owners back down. 
After a string of legal tussles, the Finland Gardens en bloc sale has been called off. 
Lawyers for residents opposing its sale said a High Court appeal ended yesterday when the majority owners in the 48-unit condo withdrew their petition. 
They went to court last year to overturn a Strata Titles Board (STB) decision made in November last year. 
The STB had thrown out the $49.5 million sale, ruling the deal lacked 80 per cent approval and that the price had not been obtained in good faith. 
Joint-venture developers Sing Holdings and Eastern Summer have also backed off. The duo had thought they successfully bought the East Coast Terrace site in 2006. Both sides will pay the legal costs incurred during the court proceedings. 
Mr Donald Han, managing director of real estate consultants Cushman and Wakefield, observed that the Finland Gardens episode implied that no en bloc process is absolute. Minority owners now know “they can contest the en bloc process as the courts will reward the outcome based on a merit basis.”
2. Written by News on 03-12-2007 23:25
Collective Sale rejected by STB
THE Strata Titles Board (STB) threw out the collective sale application of Finland Gardens in Siglap after it failed to meet statutory requirements. 
It was reported that the board dismissed the application on the grounds that it found there was no 80 per cent majority and that the sale price was not obtained in good faith. 
Though collective sales are usually approved?

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