"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.

Anonymous Flyer No.2

Who is this mystery person? I don't think it is a minority owner, certainly none of the minority I come in contact with. They are completely sane. It sounds more like a disgruntled majority owner who regrets signing and now wants a higher RP. It is well past the 5 day cooling off period for the June 1st signatories and so no owner has the right to rescind now.  I am sure no owner will sign this legally unsafe document. 

Some on the FB page think it might even be an ex-owner who has recently sold up. Could someone really be that spiteful? Another clue that it is a majority owner is an equally excitable letter from a CSC member that is circulating under the radar amongst some of the majority. It is a rebuttal to the first flyer. 

Whoever it is, they should know a signatory to the CSA has no recourse to the STB under any circumstance - and that includes being unhappy with the reserve price. Once you sign it is a done deal after 5 days, so it is pointless even trying.

Only a Minority owner can seek redress at the STB, that is our prerogative.

I hope the CSC do not go after him/her with knives drawn because SPs under stress can do unwise things in a collective sale.  Leave him/her alone, and just take whatever flyers that are to follow with a pinch of salt. At $168 a pop, there can't be many more, surely. 

1 comment: