Appellate court upholds ruling that ESR cannot vote on Sabana REIT's internalisation amendments

The Appellate Division of the Singapore High Court dismissed the ESR group's appeal and upheld the ruling that ESR, as sponsor of the outgoing manager, had a material interest and could not vote on the trust-deed amendments needed for internalisation.

Quarz Capital was a party to the proceedings as a significant unitholder.

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