Disclaimer






"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."
Drop Down MenusCSS Drop Down MenuPure CSS Dropdown Menu
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.

4-Weekly Statutory Notices & Accounts

As the first signature to the CSA was on the 12th Jan 2012 (assumed) the first 4-weekly Statutory Notice is thus due on the Notice Board on 8th February 2012

The 8-Weekly Notices in Round 1 were allegedly manipulated shamelessly. Could it happen again in Round 2?

Protestations about professional integrity aside, there ought to be a system in place for checking the checkers with full access to all documents given to any SP upon written request. Transparency was promised at the off-set, but will they deliver on that promise with regard to the Statutory Notices? Any shielding from SP scrutiny will only heighten suspicion.

Here is the Law on the Statutory Notices:-
First Schedule: 1.




The 3rd Schedule allows SPs unfettered access to the Accounts, which is a relief as the sale committee is now managing the Enbloc Sale Fund (ESF) with the potential to collect tens of thousands of dollars.  As the Vice-Chairman is a banker by profession, I place this account above suspicion. Nevertheless, as is my right, I shall be asking for access to it at various points along the way... :)

Here is the Law on the keeping of records :

3rd Schedule:-

No comments:

Post a Comment