Is the deal dead on the 27th April 2018 if the Buyer does not rescind?
Some people say Yes, it is dead, others say No, the sale will go on at the buyer's pleasure. I am not going to answer this question conclusively (though I am in the No camp) so we desperately need this confirmed or denied by the Lawyer. It is too important to leave hanging in the air. It is not enough that they use unambiguous legal language like 'remains in force' when even that is interpreted differently by different people. Just tell us in simpler terms if it is Dead or Alive.
Mr Tan posted this query on FB today (6 Feb 2018) so let's see if they answer him. I don't know how many TC owners have committed themselves to a new home, but it must be quite a number. They deserve a STRAIGHT answer.
We have a higher chance of seeing pigs fly then getting an answer from that lot.
ReplyDeleteI doubt anyone can give an answer because the contract does not spell it in a crystal clear manner. This is of course the fault of the lawyers, and could become a long drawn affair. Maybe they can disclose the spirit of the discussions, and maybe the intent, but regardless, it is not clear.
ReplyDeleteFurther the last thing Eldan wants to do is to say that the SPA will terminate, and then have SL lawyers come out and disagree with them.
I don't think we will reach that stage, and SL will definitely close, but regardless, shoddy work by Eldan and no beer for SPs who have paid their 1%.
Whoa!......"kinda scary" now Pacific Mansion up for collective sales with $938M RESERVE PRICE......gonna break TC Record soon. TC3 must make or break?
ReplyDeletehttp://www.businesstimes.com.sg/real-estate/pacific-mansion-in-river-valley-up-for-collective-sale-with-s938m-reserve-price?xtor=EREC-16-4[BT_Newsletter_Debrief]-20180206-[Pacific+Mansion+in+River+Valley+up+for+collective+sale+with+S%24938m+reserve+price]&xts=538380
Deal is still ALIVE. "SPA not null and void!", according to lawyers I spoke with. 27 April or earlier, it can be consumated.
ReplyDeleteHey, dey,..speak in simple english lah..what consumated? Wat u mean?
DeleteI think he meant to say completed:)
DeleteQuestion only half answered. Now please ask lawyer about post 27 Apr scenarios and post his answers on Facebook to make it official.
DeleteIt's been more than 2 days since Mr Tan posed those pertinent, pressing questions. This is a collective sale. Eldan and CSC have a moral responsibility, a communal obligation to respond, as our representatives, negotiators and signatories on our behalf to the SPA.
ReplyDeleteFirst, a legal question for Eldan. Second, an enquiry on the status of our uniquely long suffering Enbloc. Many are adversely affected due to this prolonged uncertainty; SSD guys with short term loans, home seekers at various stages of commitment, wedding planners, parents planning on school enrollment. I know of some who lost a small fortune as they're unclear where this Enbloc's headed.
When Frustration is manifested in official complaints, events will take a life of it's own, totally out of control of all present players.
There's a reporter from zaobao interested in our situation. I don't recommend we say anything though as the SPA and lawyer letters are P&C. Might jepordise the sale.
ReplyDeleteClose the blog. All Shhhh..... until we collect money.
DeleteBeing a SPH reporter nowadays is really sad. You have to sensationalize and compete with fake news for eyeballs. And still you get fired and if you are not, you get dumped more work from your laid off colleagues.
DeleteBut yeah, am sure she will keep on digging for someone to talk to her.
re 6.1.Then ALL SP will enter a informationless land.
ReplyDeleteThe press naturally want to follow up on the latest development following the Business Times story. Not right to talk with reporter now as we do not have the facts.
ReplyDeleteAs SP nothing to be scary off. We need to be informed the progress to plan .Buyer does not owe us a any explanation.
ReplyDeleteOnly our "service providers"👎👎👎.
Just wondering if they still have any integrity to expect $$ for their service.
What happens if TC Enbloc 3 fails and will it be another 2yrs.wait?
ReplyDeleteOMG!.....with Technichal hitches, looks worrisome for those who celebrated Farewll Dinner or Lunch? Never count your chickens before they are hatched.
ReplyDeleteremains in force means continue to be valid.Those interpret differently blinded by the cheque.
ReplyDeleteif u google image of this phrase,
it is always associated with news,
curfew in force,treaty in force...