"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.

MCST debt

There are two kinds of MCST debt in ex-HUDCs:

(1) Outstanding privatisation costs.
The majority of Tampines Court-ers paid $19,666 per unit to the HDB in order to change their HUDC estate to Strata Title (private). Not everyone welcomed the change but 75% approval was reached eventually and the estate went private on 01 April 2002. There are still some owners  owing various amount to the MCST, xx% interest per annum included.
If owners are cash rich after an en bloc sale, then their debt will be payed out from their own sale proceeds. If owners are cash poor or have no cash at all after bank and CPF redemption, then the owners will have to find the cash by other means.
Privatisation debt is neither mortgage nor charge and so an owner cannot clamor to have it covered at the STB.

(2) Maintenance arrears

MCST debt is neither mortgage nor charge, and again some owners may simply stop paying their monthly fees once they hear an en bloc is in the wind. 

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