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."
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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.

GILSTEAD COURT



'Sure fail' at the High Court! An unfair distribution of sales proceeds!

Blatantly treating the minority owners unfairly? Ignoring their obligation for 'even-handedness' when dealing with minority? Minority owners who are only exercising their right not to sign the CSA? What was this former supreme court judge thinking???

Only options for the SC now are:-
a) remove the penalty clauses on the minority owners

b)  pay the minority owners to withdraw their objection at the STB (which is perfectly legal) , but......

Looking at their website and in particular, this page, it looks like they have tied their hands at "willing owners' making ex-gratia payments


Ditto for the purchaser making ex-gratia payments ..
From the Tender Terms:-


Regent Garden .... an estate where the purchaser made ex-gratia payments to the minority to withdraw their objections - and it was deemed kosher by the High Court. 

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