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 Sub-company for new property project

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acbc
post Oct 18 2023, 06:42 PM

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Yes.

Can close it down if the project fails or taken to court.

The parent company can wash hands later.
acbc
post Oct 18 2023, 07:01 PM

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QUOTE(shanjuen @ Oct 18 2023, 06:55 PM)
Damn. I am considering to sue a developer for the poor quality and demand the recalculation of LAD. Basically they can just close down the company as they wished?
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Yes.

The laws here only protect the developers.

If the project is abandoned and developer gone bankrupt, pretty nothing much u can do about it.

For LAD, developers always negotiate with the owners for a lower settlement which is not only illegal but also wrong. The lawyers will give excuses like the company will be closing down or etc which are all BS!
acbc
post Oct 18 2023, 10:01 PM

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QUOTE(shanjuen @ Oct 18 2023, 07:06 PM)
Yes. I understand LAD should be calculated from booking fees booking from the precedent case, but this developer want to calculate it from SNP date and said no negotiations. Very arrogant. But now, I am a bit hesitate to go further, after knowing they can just wind down like that. There are still on-going projects running near my project by this developer, but I am not sure if how they really closed down their business and washed their hand. There is no way to drag their parent company down also? As they are using the same address?
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If the LAD is below 50k, use the Housing Tribunal.

If about 50k, need to engage a lawyer.

If the developer has many projects under the same subcompanies the very likely they won't close down over 1 case.

 

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