28 Nov '14, 4pm

#singapore #property EcoHouse: Investors meet with lawyers: More than 50 Singapore-base...

Comment E-mail to friend Bookmark & Share More than 50 Singapore-based investors in U.K. developer EcoHouse met with lawyers last week to discuss the best course of action in an attempt to recover some or all of their investment. The meeting, which took place at the Caledonian Club, highlighted confusion about the company which sold anything between 700 and 2,000 Brazil social housing investments to Singapore property investors with the promise of up to 20 percent returns in 12 months. The “information-sharing exercise” allowed investors to understand the ramifications of EchoHouse being placed into either administration or liquidation, and the fact that unsecured creditors would be unable to take action against in such a scenario. Most attendees agreed that collective action would be the best way to proceed, and PropertyGuru is aware of at least six cases of legal action ...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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