Business briefing

Wee Hur seeks refund of Thomson View deposit

AS the sellers have decided not to appeal the High Court's decision to void the $590 million en bloc sale of Thomson View condominium, the buyer, a joint venture between Wee Hur Holdings and Lucrum Capital, has also decided to unwind the conditional contract and seek a full refund of the 5 per cent deposit paid. Wee Hur Holdings said yesterday that Wee Hur-Lucrum is entitled to the refund under the terms of the contract, and will also apply to the Inland Revenue Authority of Singapore for a full refund of the stamp duty paid.

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