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Notable Recent Transactions
 

Harry Elias Partnership recently advised its clients on their respective first iconic architecture in Singapore.

 
  1. The Firm has beaten its own record of having been involved in the largest and second largest adjudication claims under the Building and Construction Industry Security of Payment Act (commonly known as SOP Act).  It recently acted for and successfully defended a leading international developer against various claims in excess of SGD 48 million by one of its main contractors in the largest adjudication application in Singapore under the SOP Act, which tops the second largest adjudication claim in excess of SGD 17 million in which it was involved as well.

  2. The Firm has been recently appointed as the legal advisor to South Beach Consortium Pte Ltd, a joint venture between City Developments Limited (Singapore), Istithmar World Real Estate (Dubai), and US-based Elad Group, in the real estate development of the 3.5-hectare SGD2.5 billion South Beach Project, an iconic environmentally friendly commercial and residential complex set to become a ‘revolutionary New Eco-Quarter in Singapore’ when it is completed by 2012, comprising premium office space, luxury hotels, residential apartments and retail space and including the restoration of four conservation buildings — the former Non-Commissioned Officers' Club building and part of the former Beach Road Camp.

  3. The Firm acted for Singapore Health Partners in relation to the tender for the purchase of land, the syndicated loan facilities and the construction documents relating to the construction of the FIRST mediplex in Singapore comprising a hospital, hotel and medical centre with total costs of over SGD600 million.

  4. The Firm acted for Marina Bay Sands Pte Ltd, a subsidiary of Las Vegas Sands Corporation, in relation to a bid for the concession to operate the first casino in Singapore as part of the most expensive Integrated Resort in the world, the related syndicated loan facilities and subsequent re-financing, the construction documents. This project is estimated to cost over SGD5 billion.

 
In addition, Harry Elias Partnership also assisted its clients in the following transactions:-
 
  1. Acted for a leading leisure developer Sentosa Development Corporation in respect of the drafting, negotiation and execution of the agreement in relation to the 2009 to 2012 editions of the Barclays Singapore Open which encompassed intricate arrangements involving cash and venue sponsorship; assignment of broadcast, marketing and intellectual property rights; and mechanisms for commission payment The Barclays Singapore Open is a premier world-class professional golf tournament held at Sentosa Golf Cub. 

  2. Acted for Equinox Offshore Accommodation Limited (EOAL) in respect of the issue of USD34.4 million 20 per cent senior secured callable bonds due 2010.  EOAL is a Singapore-based company listed on the over-the-counter market in Oslo, Norway and is active within the oil and gas industry. 

  3. Acted for and successfully defended a leading international developer in relation to a SGD17.7 million claim by one of its main contractors, which represented the largest adjudication application in Singapore under the Building and Construction Industry Security of Payment Act (or commonly known as SOP Act).

  4. Acted for two founding shareholders, in a series of litigation actions involving the Raffles Town Club on issues involving the existence and enforceability of an alleged oral agreement, breach of fiduciary duties, conspiracy and estoppel.  The trial of the latest suit was concluded in March 2009 spanning a total of 81 hearing days, the longest civil trial in the history of Singapore.

  5. Harry Elias Partnership successfully acted for a number of minority subsidiary proprietors who objected to the SGD500 million collective sale of the condominium development, Horizon Towers.  The Singapore Court of Appeal reversed the earlier decisions of the Strata Titles Board and the Singapore High Court and allowed the appeal by the minority represented by the Firm.  This landmark decision, not only marks the first time that the Court of Appeal has decided in favour of minority owners in a disputed en bloc sale in Singapore, but also set out the extent of the duties of a sales committee and the responsibility of the Strata Titles Board in an en bloc transaction.

  6. Acted for 3M Singapore Pte Ltd in the sale and vendor financing of its office building and warehouse at Tagore Lane for an undisclosed sum. 3M Singapore is part of the 3M Group which is a global technology company with innovative products and services which include leading brands such as 3M™, Scotch and Post-it.
 
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