QUOTE(limfgn @ Sep 23 2013, 03:01 PM)
To me I think that this is practically what happen, but in fact we are still theoretically protected by KPKT and the Bar Council, I think there is still a chance to fight, cuz if we go all the way to the BAR council they will still be in deep shit. Practically they are employ by the developer, no doubt they will side the developer, but on paper the lawyer are still representing us, and the contract says release stakeholder 2.5% at the expiry of six months after VP and the other 2.5% at expiry of 18months, i think if we go extra mile up to the BAR council I don't think the lawyer and the BAR have any choice. But i think we should only do it if there isn't much option, because this is Malaysia...hahaha.
FYI, the same amount that the developer retain from the contractor in any construction project which they call "Retention Sum", this retention sum will be release upon Certificate of Practical completion and upon Certificate of Defects liability period (normally 18months). So, the developer retain from the contractor as a security and we retain from the developer as our security, it look quite reasonable to me (the law always insist in reasonableness), further more misuse of stakeholder fund could be a very serious offense which could attract the attention of the lately very active Anti corruption commission.
Just my 2cents. I understand that its always difficult for end user to fight, but I always belief that with persistent and by knowing a little bit about our rights, there is always chances that we can tekan the developer, if we can show them that we understand what is our rights and developer obligation under the contract. I don't think the developer and lawyer will want any trouble just because of a little monetary losses to rectify "minor problem".
I think you're right to look at it from the other point of view. must hope that the developer does not get declared bankrupt,that's all. In MY there are endless possibilities of anything happening. the MACC should get a Grammy for 2013.FYI, the same amount that the developer retain from the contractor in any construction project which they call "Retention Sum", this retention sum will be release upon Certificate of Practical completion and upon Certificate of Defects liability period (normally 18months). So, the developer retain from the contractor as a security and we retain from the developer as our security, it look quite reasonable to me (the law always insist in reasonableness), further more misuse of stakeholder fund could be a very serious offense which could attract the attention of the lately very active Anti corruption commission.
Just my 2cents. I understand that its always difficult for end user to fight, but I always belief that with persistent and by knowing a little bit about our rights, there is always chances that we can tekan the developer, if we can show them that we understand what is our rights and developer obligation under the contract. I don't think the developer and lawyer will want any trouble just because of a little monetary losses to rectify "minor problem".
Sep 23 2013, 03:38 PM

Quote
0.0590sec
1.06
7 queries
GZIP Disabled