My opinion is main point is NOT "辦學團體能否買物業似乎是關鍵吧!". Main accusement is "學校並非該三項物業的註冊業主,而是由校長和校監以個人名義註冊,以受託人身份持有物業". And "未經校董會審批". Then that will be a major problem. Main problem is black box operation without letting the parents and 校董 knows.
BTW, those are all according to the news reporting. Let's see how's the schoold response and clarification. Then see if you'll still believe the Principle.