ESR sues Quarz over alleged defamation during Sabana internalisation bid

PROPERTY company ESR Group and activist investor Quarz Capital are facing off in court over alleged defamatory statements made during the latter’s push to internalise the management function of Sabana Industrial Real Estate Investment Trust (Sabana Reit).

The case is currently ongoing before the Supreme Court, with the next case conference scheduled for Dec 5. The case was lodged by claimants E-Shang Infinity Cayman and ESR Group – which is the sponsor of Sabana Reit – on Jul 31.

The defendants are Quarz Capital Asia (Singapore), Quarz Capital Management as well as three Quarz employees – head of research Havard Chi, chief investment officer Jan Moermann, and general manager Klaus Wille.