It seemed that many comments are still abound on the legal action. The Progress (1) post is reaching 200 comments, so it’s time to move on to Progress (2) with the usual summaries as follows (it is hoped that new comers would enrich themselves with knowledge by reading every single comment in every single post so that they won’t be asking questions already asked and answered in previous comments).
Summary 1: Lawsuit Progress
3PM – 5PM, 29 Jun 2008, there was a briefing on the current progress. The tactical move that the law firm Ngeow & Tan took (along with leading counsel Malik Imtiaz Sarwar) was to allow Group 1 & Group 2 of the lawsuit to progress independently. This way, if one favours us & the other does not, there’s still chance (for both parties), which is exactly what’s happening now. Both parties here are actually between the plaintiffs & the banks. This is due to the fact that Dataran Mantin is considered “collapsed” as they are already under receivership & you get zero cents by just sueing them only.
Group 1: Hearings in the High Court for the first of many strike-out applications favours the banks.
Group 2: Hearings in the High Court for the first of many strike-out applications favours the plaintiffs (yes, that’s us).
It’s a stalemate, so now we wait for the appeal at the Court of Appeals where there will be 3 judges to give their final verdict. For more information on who’s who in group 1 & 2, please read the previous post: Lawsuit Update (Ngeow & Tan)
So this court of appeal will set us back another 6 – 12 month’s time. If we win in the Court of Appeals, there will be at least another 2 more years for the trial to start and reach its conclusion.
Summary 2: Group 3 & 4
Well, Group 3 hasn’t really progressed much. This is because it is waiting for the verdict of Group 1 & 2. If we win the appeal, we will all (Group 1, 2, 3 & 4) be grouped together for a single trial.
Group 4, well… this is to be filed NEXT WEEK. This is to be fair to all those 30+ who have already signed up & paid. THIS IS THE LAST GROUP! Group 5 does NOT exist.
Whether the Law of Limitation will take effect 6 years from the SPA (Sales & Purchase Agreement) or VP (Vacant Possession), an update will be edited here as and when Mr. Ngeow & team gets the majority decision in another few day’s time.
Law of limitation of 6 years starts from: VACANT POSSESSION (VP)
Updated on 1 July 2008
So Ladies & Gentlemen, LAST CALL FOR GROUP 4, if you choose to miss this boat, you have only yourself to blame. If you want to know your risk, please check out Fears of Bankruptcy and for those who wants to join Group 4, please contact the law firm, Ngeow & Tan and submit the documents as stated in BUTL Group 4 Briefing (that was held on 22 Mar 2008 ).
- The documents stated in the posting (BUTL Group 4 Briefing) above are reproduced here for your ease of viewing. The documents required are copies (not originals) of
- Sales and Purchase agreement,
- Guaranteed Return Scheme (GRS),
- Deed of Mutual Covernants,
- Loan Agreement,
- Deed of Assignment,
- Bank statements and
- Fee payment.
- Address: Ngeow & Tan, 157-1 Jalan Segambut, 51200 KL
- Contact Person: Mdm Yap / Miss Lee 03-6257 8796 (OFFICE) 03-6457 9895 (FAX)
- Mr. Ngeow Yin Ngee, email@example.com
- Fee is RM 2,000
Summary 3: Joint Management Body
The ForABetterButl Team is still trying to get all the 5-storey walk-ups to have only 1 JMB. Once this is confirmed, we will have a JMB meeting. The first JMB meeting will be called by them so to those who have not registered with them yet, please do so. You need to send an email to firstname.lastname@example.org with subject “Register“ & Body of email to include “1. Parcel No. (or Nos if you bought more than 1 unit)“, “2. Name (both names if joint owner)“, “3. Address (both addresses if joint owner)“ & “4. Contact No. (both contact nos if joint owner)“.
Sri Palma Villa (SPV) of Block 1, 2, 3 & 6 already have a JMB, please take all your queries to this blog: Sri Palma Villa 1, 2, 3 & 6 and please support the chairman of the JMB. If you put yourself into the shoes of the chairman & rationalise the need to save SPV, you would already have imagined that RM 5,000 has already left your pocket. We are all in need of help. So those who can help out, please do so. BUTL needs rebranding.
Also, Dataran Mantin always like to bill you 6 months in advance. DO NOT GIVE THEM ANY MORE MONEY!! They will not take care of that place. They are already under receivership. Mr. Tang Chai Yoong has just been charged (on 19 June 2008 ) in court for CBT (Criminal Breach of Trust) of RM 16 million.
Then, there is this sole Sri Palma Villa Block 5 facing the main road under its own development unit. This block is facing the worst fear of having few tenants, if at all any. Purchasers of this block will need to setup a JMB by themselves or if left alone, will probably be managed by an agent as stipulated in Act 663, Section 25, appointed by the MPN’s Commissioner of Buildings.
Remember, once the JMB is formed, the developer takes order from the JMB, and the JMB is supposed to represent you, the purchasers of the apartments. Please do your part to safeguard your investment. This is the time to be united. Once the apartment’s JMB has been sorted out, we will go after the colleges to make sure that it is also managed properly.
Whether or not we win against the banks, this property in the mean time is still yours.. so please take good care of it.
This post will be updated soon.. once more information is received. Many thanks to all who attended the briefing, both the speakers and the audiences, especially to the ForABetterButl Team & the Pro Tem Committee of Butl for organising it. Also, a round of applause for the briefing was conducted in English, Bahasa & Mandarin. Last but not least, those who contributed through monetary means, THANK YOU VERY MUCH.