Housing minister Michael Suen Ming-yeung likened it to a 9/11-style attack. Some analysts described it as a 'perfect storm' caused by incompetent bureaucrats. Whatever it is known as, most people see the Link Reit listing as having no winners.
Even before the decision was taken to shelve it late on Sunday, the blame game had already begun. Last week, top officials pointed the finger at someone for 'stirring up trouble', referring to the 11th-hour judicial review filed by 67-year-old Lo Siu-lan, and the politicians and activists who are backing her fight.
On Sunday, legislator Albert Cheng King-hon said that housing officials should be held responsible for their failure to immediately stop the listing after Ms Lo went to court. Meanwhile, online chat rooms were filled with angry messages against Mr Cheng and the so-called 'black hands' behind the legal challenge.
As the hot air evaporates and cool heads prevail, many people may remain confused by the dramatic turn of the events. Key questions have yet to be answered.
Leaving the emotive rhetoric, political posturing, rumours and conspiracy theories aside, the incident reveals the depth of disagreement within society in the course of policy changes and economic restructuring.
Ms Lo's comments that, 'I've found Tung Chee-hwa and knocked on the tiger's head', showed some quarters hold strong grievances against the chief executive and, more importantly, the authority and power he represents.
Referring to the subsidised public housing flats and facilities, she said: 'They cannot sell my assets. I won't let that happen.'