LEGALITIES:The ministry said that Eslite Group’s offer could violate investment rules and that it has no right to alter the contract between the city and Taipei New Horizon
Taipei Times
Date: May 13, 2015
By: Crystal Hsu / Staff reporter
Efforts to resolve a dispute over the Taipei City Government’s disagreement
A couple walks past the Songshan Culture and Creative Park in Taipei on Thursday last week. Photo: Fang Pin-chao, Taipei Times
with Taipei New Horizon Co (臺北文創) over royalties and management of an office building, store and hotel in the Songshan Cultural and Creative Park (松山文創園區) yesterday hit another snag, as the Ministry of Finance (MOF) questioned the legality of Eslite Group’s (誠品集團) plan to acquire the superficies rights to its operations in the complex.
The bookstore-turned-conglomerate on Monday unveiled plans to buy the lease for the Eslite Spectrum Songyan Store (誠品生活松菸店) and Eslite Hotel (誠品行旅) from Taipei New Horizon Co, which was founded by the Fubon Group (富邦集團) to manage the complex, to end the controversy.
However, the ministry said the proposal could violate investment rules regarding build-operate-transfer (BOT) projects. [FULL STORY]
