Yes. I heard something like a little problem cropped up and that might cause a delay. But to point the finger at the MC now is a little unfair to them. Let us find out if the developer is in the position to enforce the late fees or completion is only on hold pending the outcome of the outstanding issues. Let us realise that the few cases with outstanding dues should not be a responsibility of all residents too. If indeed someone is held responsible for the delay , it should be these few with outstanding funds and not the management members. They are doing their part to protect whatever small amount that is balanced in the MC funds to be distributed to all residents.
Whoever got any latest news please share. Thank you
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Let us realise that the few cases with outstanding dues should not be a responsibility of all residents too
Err = is that your opinion or is the official legal stand? am out of country and am not aware of events - but please remember a layman's view could be very different from the legal perspective. for instance, anyone delaying the completion will cost the entire development a sum of money - and all may well be jointly liable. I am not sure as i do not have the documents with me at the moment. But let us not be so naive as to think that we are necessarily cushioned.
Why don't you do your sums? The MC is trying to make the debtors pay a few ten thousand dollars _ may $30 to $50 from two of them.
There are six of them. Two have paid up and two are bankrupts, leaving two culprits.
Each day of delay will cost Mintton Rise $57,000 plus and two days of delay will cost it $104,000or more than what it can hope to recover from the two recalcitrants.
So who to blame? Those who owe money or those who are chasing the money? Who is penalised? Everyone.
Each household in MR has to pay $163 a day.
I am not an expert in these transactions but I think the MC can recover the monies owed from the sale proceeds. They need to file these claims in court to make the collection legal. The lawyers will then deduct the amount owed from the sale. I may be wrong but I think it is ridiculous to hold up a sale for such a small sum.
heard MC lawyers Tan Chin Hoe & Partners told en bloc lawyers they wont be pressing charges against those owing money to the estate.
Dont see what's the fuss about. The MC or the lawyers can always deduct any outstanding loan out from the sales proceed. There is already a provision for this.
Is some sour grape (either from the minority or majority) trying to create anxiety here by rumour mongering?
Just back from overseas trip. Any news regarding the completion and payout?
Supposed it is still on 4 Jun 09?
Did not receive any further letter from WTL to finalise the payout amount. Any updates from anyone?
Completed. Payout will be on the 4th. You can call WTL for more details.
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