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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.

rumbles in the jungle...

There was a bit of a commotion today outside the MCST office between some majority owners who want to appeal to the High Court and those that do not. Later on, a resident set up shop to collect signatures for a petition; possibly for our eminent MP.
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It is rumoured that the en bloc lawyer will probably file an appeal soon. I was told it could be done on an urgent basis.
This is their prerogative.
The minority, of course, will object.

3 comments:

  1. good luck to all. this is now a house and no more a home.sad.

    ReplyDelete
  2. Anonymous14 July, 2008

    I am one of the majority owners who never minded what came out of the deal. It is a pity though that the actions of the SC and its lawyers have disrupted the financial and personal plans of so many families. Much of this could probably have been avoided if there had been more transparency in the whole enbloc process and if the residents had been kept more up to date on all happenings.

    ReplyDelete
  3. Anonymous14 July, 2008

    I came to know about the commotion at the void deck of Blk 120 and at the function room at the Management office on Sunday and went down to check. I was told by (resident’s name) being an SP on his own accord is exercising a petition to the Minister to appeal to the STB to bring forward the date before the 25th July.

    I am surprised that the MC had allowed a single SP to use the function room to collect signatures for his letter to the Minister.

    I am also shocked to know that the representative of (property agent) had contacted via email and SMS to majority owners to come to the Management office to sign the petition on an urgent basis. Is the PA being hired by all the majority or only one SP whom they took his instruction to contact majority SPs.

    I do understand from (the resident) that the (en bloc lawyer) is going to appeal to the High Court to throw out the decision made by the STB. Have they got the majority mandate to do this or is he exercising on his own accord or by the SC? I do also understand from (the resident) that whatever cost involves for the proceeding to High Court is borne only by the (en bloc lawyer).

    [letter was moderated by blog administrator (names deleted)]

    ReplyDelete