Investment Empire Remix, Launching soon at USJ 1
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 Jan 24 2019, 10:58 AM
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#1
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Senior Member
579 posts Joined: Mar 2010 
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QUOTE(Sand Dust @ Jan 22 2019, 10:40 PM) RM350m is enough to pay off all the LDs, con & subcon overdue and finish all the blocks? Probably buyers have to top up and waive the LAD to have the project revived. That's the SOP for abandoned projects |
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Jan 26 2019, 12:53 PM
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#2
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Senior Member
579 posts Joined: Mar 2010
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QUOTE(Sand Dust @ Jan 26 2019, 10:03 AM) If developer run in cashflow prob to develop any property, and with looming LD，then best just abandon? And maybe sell to another entity to swipe off all the LD? It depend on how the takeover.. Whether liabilities are transferred or not. If the new developer buys over the project with liabilities .Then it's is for the new developer to negotiate with the buyers on the lad. However, the main question is would buyer rather face an abandoned project or insist for LAD? Most of the time the buyer will jsut forgo the lad to have the property completed. I have done alot of construction disputes to see the obvious. |
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