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Hong Lim Park Land Banking Speech
The speech by Tan Kin Lian on land banking can be found here:
Land banking speech by Tan Kin Lian
There appears to be limited recourse for the first group of buyers as it is really a willing buyer, willing seller transaction.
In any case, it remains to be seen whether the original selling company has the means to buy back all the plots from affected investors even if a judgement against the company can be obtained.