Did you get an sms from the sale committee informing you to bring your chequebook to the EGM tomorrow?
Looks like they are expecting to start the signing right away which means they have no intention of making any new amendments to the CSA.
So any discussion at the EGM will be pointless and just so much hot air. Bear in mind the subsidiary proprietors of TC are not the Solicitor's clients - the SC and the Representatives are. If you read Schedule 3 Scope of Solicitors Services, note C and the 'Work Excluded'. So, if you ask for advice, none will be given.
It is best therefore to seek independent legal advice on the CSA to better protect your interests.
How much will you have to pay?
11.17: $52.00*
11.18: $168.00*
Scope of Solicitors services (1)(a): $250.00
Total: $470.00
* not sure when these is payable, but I presume at point of signing
It is best therefore to seek independent legal advice on the CSA to better protect your interests.
How much will you have to pay?
11.17: $52.00*
11.18: $168.00*
Scope of Solicitors services (1)(a): $250.00
Total: $470.00
* not sure when these is payable, but I presume at point of signing
I don't understand why anyone would sign the CSA on day one. Why jump in at the beginning and tie your hands unnecessarily for the next 1-3 years (read the 33 covenants again). If there is any hope of reaching 80%, it certainly won't be achieved quickly, probably on the last day of the 12 month period, if at all. Blame it on the LTSA - 6 months, 12 months, it doesn't matter; the prudent would always wait until the last moment to minimise their liability and maximise their options and you know what they say, only fools rush in.
Enbloc round 1 I was one of the earliest to pay the admin fee that cost $700+. When the enbloc failed to materialise I lost the sum. Do you expect me to pay before STB approve the sale this time? Don't dream-lah.
ReplyDeleteEven before the ink is dry, they ask for your money. Is this deja vu? They are out for your maney, just like the last enbloc!
ReplyDeleteVery simple. If you sign, you must pay, if you don't sign no need to pay.
ReplyDeleteSo, if the en-bloc fails, you don't lose money.
If en-bloc goes through STB and gets finalized, then you pay - no interests charged, very clever right?
So why Pay And Pay up front?
When you should first ask "Why Pay?"
and my advice Never Stupidly Pay.
Must I pay if I dont agree to the RP (RP deleted) mio ?
ReplyDeleteNo, if you do not sign the CSA.
DeleteIn 2yrs+ time, if the sale is approved at the STB and only after the sale is completed, then the full costs & expenses will be deducted from your gross sales proceeds.
@Must I pay..
ReplyDeleteIf you sign - bring your cheque book and pay, if en-bloc fail you lose.
If you don't sign then you Simply Don't Pay,
if en-bloc fail you didn't lose a cent