Couple caught in 99-1 property transaction sue salesperson, PropNex and law firm for S$586,172
This is the third reported lawsuit embroiling PropNex over purported sale arrangements for buyers to avoid paying more in ABSD
Add BT as a preferred source
[SINGAPORE] A PropNex subsidiary has been sued, along with its salesperson and a law firm, over a so-called “99-1” property transaction, by a couple who allege a breach of duty by the three parties.
The couple are claiming a sum of S$586,172, the amount in additional tax and surcharge that the taxman had asked them to pay, for having avoided paying the relevant stamp duty for their purchase of a condo unit.
Neo Say Chuan, 47, and his wife Tiong Bock Lian, 43, are represented by WongPartnership’s Gavin Neo. They have named PropNex Realty, salesperson Don Tay and Anthony Law Corporation as defendants in the lawsuit.
TRENDING NOW
Not retirement, but a rewiring and fresh perspectives post-DBS, says Piyush Gupta
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
Hong Kong’s bad-debt bankers ramp up fire sales, liquidations as city’s distressed loan ratio hit a high
Power of payouts: A big chunk of the STI has just gone ex-dividend. What’s next?
