High Court rules that ESR has a material interest and cannot vote on internalisation amendments

On an application by the trustee, the Singapore High Court ruled that the ESR entities, which held about 21% of Sabana REIT, could not vote on the trust-deed amendments required to internalise the manager.

Quarz Capital, then holding about 14%, was a defendant in the proceedings alongside ESR.

Summary prepared by Quarz Capital from public reporting by Singapore Courts (judgment). Refer to the original publication for the full article.