The dropping off does not indicate there is no bad faith. The plaintiffs' representing lawyers can bring up issues relating to point of law only.
What is bad faith exactly ???
Who can rule there is bad faith ???
Is there bad faith in the Minton Rise enbloc procedures ???
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The issue is not about faith. It's about percentage - whether 80 or 90per cent.
The plaintiffs want the court to rule that 80 per cent is not enough for the en bloc exercise to go through.
i wonder when will enbloc can be successfully complete. This is seriously taking too long. :-(
When people give up objecting lor...
AFTER three months of deliberation, Justice Choo Han Teck has delivered a 31-page judgment that - for now - signals the end of the Gillman Heights en-bloc saga.
However, it was not the outcome hoped for by the 22 minority owners seeking to scupper the S$548 million deal.
The judge said the specific issue was not one concerning protection for the minority, but “whether a privatised HUDC estate can participate in the benefits of an en-bloc sale if the requisite conditions are met”.
Under current laws, a 90 per cent approval is required for estates less than 10 years old and 80 per cent for those older.
Some 87.5 per cent of the 608 unit owners had agreed to the sale of Gillman Heights, built in 1984.
On the issue of the estate’s age, which the plaintiffs claimed was less than 10 years old since the condo only underwent privatisation in 1995 and acquired the Temporary Occupation Permits or Certificates of Strata Completion (CSC) in 2002, the judge ruled that the estate was more than 10 years old.
He said that there was also no bad faith and breach of natural justice due to the involvement of the National University of Singapore (NUS), which held 46.86 per cent share at the development.
Five months after the en-bloc sale was inked in February last year, it emerged that NUS was also a shareholder of Gillman Heights’ purchaser Ankerite Pte Ltd.
While some owners claimed this was a conflict of interest, Justice Choo said NUS was entitled to exercise its right as a consenting subsidiary proprietor (CSP) to vote for the collective sale.
He added: “The minority CSPs were duly noted of the NUS vote and execution of the collective sale agreement about six weeks before the application for approval was submitted to the Strata Titles Board.”
Futhermore, Gillman Heights was sold before property prices skyrocketed last year, so “it would not be appropriate for the Board or this court to assess good faith with regard to the sale price of the development through the lens of hindsight”.
Despite the setback, one minority owner - who declined to be named - said he is not giving up the fight.
“Many of us are still disappointed by the conflict of interest and we will stick it out till the end and take this case to the Court of Appeals.”
But Lee & Lee senior partner Quek Mong Hua, who represented the majority owners, said: “They have every right to appeal, but they have to consider if it is in their interest bearing in mind the cost.”
For now, Mr Quek said his clients were happy the judgement is out and they are hoping to complete the sale. - TODAY
Source : Channel NewsAsia - 25 Jun 2008
Posted by Enbloc Outlook 2008 at 12:57 AM
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seriously, how we can justify that minton rise is 10 years old beats me. if so the development charges will be different right? its as if, just because i change citizenship, my age is dependent on my change of citizenship date! Wow - that will make me very young indeed!
really wonder why the minority wanna object, is it they luv the place so much or what... ??? anyone knows? this enbloc process is taking too long .. got 3 years already or not? zzzzzzzzzz really sian :(
Minton Rise was built some 20 years ago with a 99-year lease. If it is still a child of less of 10 years old, then what has happened to the 99-year lease? Has it been extended to 109 years?
The en bloc deal has reached an impasse.
However, the management committee is contemplating buying an expensive security system to complement the present guards.
Won't it be a waste of residents' funds to do so?
What if the sale goes through and the new system has been bought?
It's true that many in the present committee are objectors, but they should spare a thought for this needless waste of money.
Hmmm - would that constitute bad faith i wonder? this is not the time to spend unnecc money!
The en bloc sale has reached an impasse? What impasse? The hope of the current Minton Rise MC (comprising mostly objectors) and Gillman Heights objectors are both hanging on a thread and it will probably snap together and land hard on the ground on 2.2.09.
2209 is a nice number, so remember to buy 4D from now.
interesting that gilman heights got court of appeal hearing even before we finish our pre-trial. well! Lets hope by the end of feb everything is over.
Minton Rise a nice place to live in. It is quite idyllic with fresh air and a quiet surrounding (it was even better before all sorts of people started to move in). It is near the highways and the MRT is not too far away. Unfortunately, it is growing old and renovations will be costly. Like all old things, the majority of the residents feel that it has to give way to time. When the en bloc deal is through, we will feel a mixture of sadness and gladness _ sad to leave a loved one and happy to get some money in these gloomy times.
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