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"I am a BLOGGER NOT an expert. This is a BLOG not a 'go-to' website for official information. I represent no one's view save my own. I have neither legal nor financial training, nor do I have anything to do with the real estate industry. My understanding of the Collective Sale Process is from a layman's position only. My calculations, computations and tables are homespun and may contain errors. Please note that nothing in this blog constitutes any legal or financial advice to anyone reading it. You should refer to your lawyer, CSC or financial adviser for expert advice before making any decision. This disclaimer is applicable to every post and comment on the blog. Read at your own risk."
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There is one thing worse than an Enbloc ----- and that is an Enbloc done badly. Since the majority have the necessary mandate to sell, then they owe it to all SPs to make a success of it. Minority SPs can only watch and wait, if they sell then lets pray it's at a price we can move on with, if they don't sell, then we are happy to stay for a few more years.

Appeal

The Majority have filed an Appeal to the High Court and have appointed Michael Huang SC as their counsel.
Counsel for the Minority are N. Sreenivasan and Siva Krishnasamy
The appeal should be heard Wednesday 16th before Tan Lee Meng J

3 comments:

  1. Anonymous14 July, 2008

    It seems that the SC has collected enough signatures to go ahead with the appeal to high court.

    You mentioned that there is a STB requirement to hold an EOGM to extend the S&P agreement on TC side, Is this confirm?

    Thank you.

    ReplyDelete
  2. They don't need any signatures to go for an appeal.

    The signature collection was for a petition to the MP. But the MP cannot interfere with the judicial proceedings and has no influence on it's outcome, so it's more for show than anything.

    There is no extension to the S&P - the buyer does not wish to extend so the SC cannot extend it unilaterally.

    I have not gotten back to the point about the EOGM yet - it is not on the horizon but if it does become a possibility then I will get that fact verified. So, KIV it for the moment.

    ReplyDelete
  3. Anonymous19 July, 2008

    Hi

    As a majority, i would like to know who will bear all the charges for appointing Michael Huang.

    I think the Sales committe should write to all the majority concertn and not to few specific ones before taking any step. The sc cannot take their own decision, The money is not coming from their pocket. Are the sales committee acting for the tampines court residence or for their own interst.

    ReplyDelete