Singaporean Billionaire Sues Brookfield Over Alleged Deal Sabotage
A Singaporean real estate executive claims Brookfield Asset Management wrongfully terminated a joint venture agreement and pursued a property deal independently.
Lim Chap Huat, executive chairman of Singaporean real estate firm Soilbuild Group Holdings, has filed a lawsuit against Brookfield Asset Management, alleging the New York-based firm sabotaged a planned real estate joint venture. The suit, filed in New York, claims Brookfield initially proposed the collaboration with Soilbuild and then allegedly terminated the agreement to pursue a property deal independently.
The dispute centers on a planned joint venture that Lim alleges Brookfield presented as a collaborative effort. According to the lawsuit, Brookfield subsequently breached its obligations and worked to usurp the deal, effectively cutting Soilbuild out of the transaction. The specific real estate asset or the location of the deal was not detailed in the initial report.