half way settlement depends on the ones acting for the losing side.. CIPAA very straight forward.. bills.. invoice, certificate ada just pay, other issue no care one..

Mareva injc too big... sub con where can afford undertaking of damages of paymaster millions man.. garnisi/attachment , then possible/more likely

paymaster-main con portions of progressive payments/final payments/retention sums boleh la...

sub con can claim lor... just the portion above... but if gulung tikar then useless... Main con usually ada banyak contra units, pray for contra units which has values...

This post has been edited by bearbearwong: Apr 8 2020, 02:17 PM

Not if you can prove that there is inactivity at the construction site for 6 months, then you can write in to your financier to have the loan facility cancelled.

Of course they have the prerogative but if you managed to show cause, then the bank cannot withhold consent in approving your termination.

Actually from what I observed, liquidators are usually friendly party of the previously bankrupted company, all left hand right hand do show laa

Depends on the contract. Some can claim EOT with expenses... Some only can claim EOT

For ur second paragraph, it would be implied lo... Where got fair to contactor wor... If MCO 5 months then super GG.com...

my view is apa u mau pon boleh... but the portions disbursed by banks towards your loan draw down macam mana? if u bayor dengan interest... maybe can..that is also subject o developers consent.. if everyone cancels.. then how? u cancel SPA means banks has no security...

take Taman Desa collapsed project as example under constructions ... surely many purchaser want out, can they do? are the reasons solid enough? will developers object? if all allowed to cancel SPA, developers die?

but but the developer/proprietor may say banks had given irrevocably powers to disburse the loan.. the purchaser's issue with the developers is of not a concern to the banks.. banks are merely financier... their duty is to disburse loans...

This post has been edited by bearbearwong: Apr 8 2020, 02:23 PM

property dev can just sell 30% of their projects and they will untung already. Problem is these property devs can sell 70% to 90% easily.

this one most likely to fight it out, if 5 months sub con even got rights would have already wound up... Selangor/KL punya kuasa can la.. these ppl sitting there are reasonable and experience..

banks valuation most important.. and then whether they want to borrow or not? how many eligible borrowers out there?

selling 80% off memang happening now... just they mark up and give discounts/rebates =20% , mana menteri perumahan?

Ya indeed, in Malaysia, as long as you know how to pusing, really apa2 you mau pon x de hal.

Of course developer wont agree on termination, but if a purchaser can pay them liquidated damage for 10% of the purchase price, then they have to sign deed of termination with them.

Banks can only release loan once all the pre-disbursement conditions are met, note: a valid subsisting Letter of undertaking issued by Developer is one of the conditions.

humans are always more smarter than the system of liquidator... joint creditors last last come in before winding up request private liquidator to be appointed .. habis no more left hand, right hand...

those appointed liquidator bow down to paymaster which is the creditor... if u find the right person, all those monies, property transfer keluar within certain period all recovered back..

directors duties habis semua 100% application.. mana-mana tak ikut saman sampai lubang cacing... but of course all required time and monies, normally sub cons cant sustain until there.. and main cons/developer seeing you mau mati will come offer:

a) total hutang (bayor 50% via installments..
b) offer new projects lor
c) contra units

what we said and lay down are the things they can do, reality is different, sub con will bow down because of survival.. my views..

aiya, this requirement wor.. developers, arkitek, engineer, QS /consultant one group, apa pon sign as long as building is safe .. delay not their issue pon..

macam kat bukit jalil, my kawan.. developer install aircorn without windows to claim progressive payments.. ok je... semua kotor air corn habuk...

humans are much much pandai than system... especially those humans

Anyway they will close also after everyone die if government never control the virus.

All sikit sikit bontot .

my friend at mrcb told me everything is ok there
guess their reserve is huge to cushion the covid19 impact

Biological hazard is still nature

most of MRCB projects are office buildings

after the MCO lifted, employers will finally realize it is not wise to have glamour office only to be closed down due to the pandemic

of course, those completed projects has been handover to REITS, which is using investors money to pay the loan anyway

gg the dividend yield for office REITS for 2020-21

on the other hand , big projects will go on. if not gdp will gg

Good. Nowadays 99% kontraktor all sampah kaki menipu. Fuckin die already hopefully after reboot naik yg bertanggungjawab.

She didnt bluff bro. I saw it in her insta story and asked her where she was how come got so expensive punya whiskey and gold bar.

Kasi tutup all condtruction company.

All bangla jobless go back bangla

Me too, I don’t buy property from bankrupt owner.

hmm tell me about it. Why