HORIZON Towers owners may reap some $1.5 million from a failed en-bloc deal which in turn could help pay their legal bills. --PHOTO: STThe sum represents the interest at 1.5 per cent accrued on the $50 million deposit paid by the would-be buyers when the $500 million deal was inked in 2007.
The $50 million, 10 per cent of the sale price, was paid as a deposit when the initial option to purchase and sales pacts were signed.
The deal was made between the condominium's sales committee on behalf of the majority owners and property developer, HPL, and two partners.
Read the full story in Thursday's edition of The Straits Times.
