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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."

SALE IS NOT CONFIRMED
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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.

Application to STB





I received my bundle of documents on the 27th Sep 2017

The lawyers have submitted the original CSA with the first RP of $739,200,000 (TAB 2)
This is followed by the consent forms of the signatories to the sale and anyone reading this submission would be mistaken into believing that these signatories all agreed to the lowest RP. 
No where can I find the revision of the RP upwards  to $840,000,000 (6 Jan 2017) or the final revision up to $952,000,000 (28 Apr 2017)
We were informed via Notices and Hutton Flyers, not by Legal letter. Sloppy work.
Even still, they should have included these revisions in the Application. An addendum should be sent in to rectify this mistake - this application is for the official records and the record will show incomplete information otherwise.

RP 1 garnered 46.43%
RP 2 garnered 9.64%
RP3 garnered 27.5%
Total: 83.57%

15 comments:

  1. That's cutting it a bit too close innit? So stb' s approval date also will be pushed back.

    Actually what I find really annoying is that it alway takes a few people to ask for an update before we are given one.

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  2. Submitted to STB yesterday. Now the fun begins.

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    Replies
    1. This enbloc means alot to many SPs and you think it's funny ? If you are not happy will you take the lead and submit yr objection all the way to high court? Show how good you are in yr argument for yr objection or engage the most expensive lawyer to argue for you. Be a man & do it on yr own instead of instigating others to object with you to save cost.

      Delete
    2. Wow, how does such a lighthearted comment deserve such a rude reply? So silly.

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    3. 84% probability that the "fun" means the "sale proceeds"

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  3. Who is the valuer?

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  4. Moving forward:

    1) When is the deadline for objectors to submit their objections ?
    2) If no objections by the deadline, can the STB issue orders to sell straightaway? No need to wait for 2 months right ?

    ReplyDelete
    Replies
    1. 1) They have 21 days from the Notice
      2) I doubt it, they have 60 days max, STB moves at a snails pace normally

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  5. Tks.

    is.there.any escape clauses for buyer,eg differential premium and lease upgrading premium for topping up to 99 years exceed a certain amount etc.
    2
    Can share CSA here?

    ReplyDelete
    Replies
    1. Yes to the first question No to the second (not on this blog)

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  6. Wonder if there is anyone out there that did not receive the bundle of documents? Still waiting for the post man to come.....

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    Replies
    1. I just collected it from post office today as I was not in. I think they sent out in batches.

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  7. Any news or hearsay on whether there is any objection ?

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  8. If got objection, will STB let the rest of residents know or until mediation over?

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