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Empire Remix 1 Restructuring, Pay Interest or Abandon it
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TSRedFrame
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 Mar 25 2021, 04:04 PM, updated 4y ago
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New Member
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Hi all,
I just received an email from a corporate restructuring firm that have found a white night to take over this crazily long over due project ( Supposed to be ready by 2017 )
They are not asking for extra payment , but to start paying interest for another 4 years. This project was in 2013 so I was on DIBS scheme. They are saying that I will still make money if the project appreciates after completion.
Anyone here have Empire Remix 1 USJ 1 stucked like me ? What will you do ?
Regards
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lollipopkan
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Mar 25 2021, 04:11 PM
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Damn. Dibs scheme.
Must be long overdue. Haven't heard the term in quite awhile.
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icemanfx
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Mar 25 2021, 07:38 PM
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QUOTE(RedFrame @ Mar 25 2021, 04:04 PM) Hi all, I just received an email from a corporate restructuring firm that have found a white night to take over this crazily long over due project ( Supposed to be ready by 2017 ) They are not asking for extra payment , but to start paying interest for another 4 years. This project was in 2013 so I was on DIBS scheme. They are saying that I will still make money if the project appreciates after completion. Anyone here have Empire Remix 1 USJ 1 stucked like me ? What will you do ? Regards How much is total interest over 4 years period? |
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janicetmy P
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Aug 23 2021, 04:13 PM
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New Member
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Hi, I am trying to locate any group of owners who are taking legal action against the Developer for this project. Can anyone help with information please? I'm also stuck with this project and it's getting harder to service the DIBS. QUOTE(RedFrame @ Mar 25 2021, 04:04 PM) Hi all, I just received an email from a corporate restructuring firm that have found a white night to take over this crazily long over due project ( Supposed to be ready by 2017 ) They are not asking for extra payment , but to start paying interest for another 4 years. This project was in 2013 so I was on DIBS scheme. They are saying that I will still make money if the project appreciates after completion. Anyone here have Empire Remix 1 USJ 1 stucked like me ? What will you do ? Regards |
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Ninasyedagus88 P
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Oct 11 2021, 08:48 PM
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New Member
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QUOTE(RedFrame @ Mar 25 2021, 04:04 PM) Hi all, I just received an email from a corporate restructuring firm that have found a white night to take over this crazily long over due project ( Supposed to be ready by 2017 ) They are not asking for extra payment , but to start paying interest for another 4 years. This project was in 2013 so I was on DIBS scheme. They are saying that I will still make money if the project appreciates after completion. Anyone here have Empire Remix 1 USJ 1 stucked like me ? What will you do ? Regards |
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Ninasyedagus88 P
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Oct 11 2021, 08:51 PM
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New Member
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QUOTE(RedFrame @ Mar 25 2021, 04:04 PM) Hi all, I just received an email from a corporate restructuring firm that have found a white night to take over this crazily long over due project ( Supposed to be ready by 2017 ) They are not asking for extra payment , but to start paying interest for another 4 years. This project was in 2013 so I was on DIBS scheme. They are saying that I will still make money if the project appreciates after completion. Anyone here have Empire Remix 1 USJ 1 stucked like me ? What will you do ? Regards |
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forever1979
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Oct 12 2021, 01:49 PM
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QUOTE(janicetmy @ Aug 23 2021, 04:13 PM) Hi, I am trying to locate any group of owners who are taking legal action against the Developer for this project. Can anyone help with information please? I'm also stuck with this project and it's getting harder to service the DIBS. just curious, if the developer already in deep shit, why bother need to spend money and time to pursue legal action ? |
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vinceleo
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Oct 12 2021, 03:12 PM
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Well said, better run latest financial status else Purim GN $$$$ down the drain QUOTE(forever1979 @ Oct 12 2021, 01:49 PM) just curious, if the developer already in deep shit, why bother need to spend money and time to pursue legal action ? |
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Babizz
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Oct 12 2021, 04:13 PM
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QUOTE(forever1979 @ Oct 11 2021, 11:49 PM) just curious, if the developer already in deep shit, why bother need to spend money and time to pursue legal action ? Agreed and why pay interest during the dibs period |
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icemanfx
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Oct 12 2021, 04:30 PM
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QUOTE(forever1979 @ Oct 12 2021, 01:49 PM) just curious, if the developer already in deep shit, why bother need to spend money and time to pursue legal action ? Buyer/borrower is liable to loan disbursed. QUOTE(Babizz @ Oct 12 2021, 04:13 PM) Agreed and why pay interest during the dibs period dibs is not unlimited. if developer failed to make dibs, borrower is liable. |
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tkyong1
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Apr 22 2022, 09:14 AM
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what happen to this development now ?
i pass by daily, seems no improvement.
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1ullaby
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Apr 22 2022, 01:54 PM
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Is it possible to share whos the white knight coming in? HCK group?
At least theres some progress, seriously feeling relieve for the buyers here.
So I assume the deal is only for buyers who serviced their interest past few years, and just continue to service right? Nothing to lose for buyers anymore at this stage unless they force you to sign unfair terms I guess
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101 Q P
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May 16 2022, 08:34 AM
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New Member
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Hi do you know they have group lawyer?
I'm the victim too.
Lawyer advise me to get a statement from bank to know where the money go?
The unit is 200+k almost 60% paid out.
I need help on this too...a pain 100k I have to pay bank.
Went to bank earlier what they can help reduce interest slight from 4.4 to 3 something...
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101 Q P
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May 16 2022, 08:40 AM
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New Member
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QUOTE(Ninasyedagus88 @ Oct 11 2021, 08:51 PM) Me one of them.. What can be done. I'm paying interest now for developer a yr. 100k still owing bank which I have to pay Option throe in a lump-sum of money when I have..to reduce the interest charge |
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TSRedFrame
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Sep 5 2022, 10:55 AM
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New Member
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Today is the last day on of the Proof of Debt Exercise.
Anyone has a telegram group so that we can discuss ? Im obviously stucked with this pile of shxt that cannot be solved.
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