Here's the relevant section from the Straits Times 2 Mar 2007. Following this is another letter to the Today paper dated 28 Feb 2007 by Henry Lim.
Couple go to High Court in last bid to stop sale
Straits Times
2 Mar 2007
The couple's lawyer, Mr Leong Yung Chang of Veritas Law Corporation, said the main thrust of the appeal would be that loss of CPF money should be considered a deductible expense.
He also confirmed this will be the first time the High Court will hear such a case.
Although we face the risk of losing, we feel the public needs to know the High Court's position and if it ratifies STB's ruling,' said Mr Yeo.
He also said he felt the laws on collective sales, passed in the 1990s, have 'swung the pendulum too far against the interests of minority members'.
There's a general feeling of a need for greater protection for people like my client who are forced to suffer a loss,' said Mr Leong.
For the collective sale to be approved, the reserve price has to be met and 80 per cent of Waterfront View's owners have to agree.
Madam Valerie Ong, a 45-year-old housewife whose estate is currently in the process of a collective sale, told The Straits Times that she sympathised with the couple's position. She said she believes a policy review' of collective sales is overdue, especially with the huge increase in such sales in the last few years.
Waterfront View's sales committee member Kevin Tan said he was surprised at the couple's decision, but was prepared to fight all the way'.
If he wants to up the ante, we have no choice but to respond.'
Another resident, Mr David Govinden, said residents would definitely be upset that the couple are taking the matter further, as we thought the chapter was over'.
Mr Yeo said he had no intention of causing inconvenience to residents but was acting within his rights.
I don't want to regret not appealing. This is the final step we can take,' he said.
Senior citizens look forward to peaceful retirement, not financial gain from en-bloc sales
Letter from Henry Lim
Today - 28 Feb 2007
Handsome profits are the chief reason for en-bloc property sales having gained so much popularity. In the early days, en-bloc sales were confined mainly to old developments, with developers also taking the opportunity to build up their land banks. Over recent years, however, the main motivation has become the huge monetary gain from such sales, regardless of the age of the development.
We have also seen attempts by homeowners going to court to stop such sales for personal reasons but without success, the argument being that the current law does not allow for personal reasons to override majority concerns. The en bloc fever has, unfortunately, caused some uneasiness among senior citizens who have hoped to live out their retirement years in their present homes and who view relocation as unnecessary and disturbing. Some senior citizens have downgraded to small private apartments for practical reasons. It is thus very upsetting if they find themselves having to relocate years later. My wife and I are among these. We recently moved to a small but comfortable apartment, hoping to live out our retirement without having to move again. Alas, we have just heard that our development is considering an en-bloc sale. We are very upset and anxious about what the future holds for us. I am sure many other senior citizens also harbour such anxieties, and look forward not to financial gain but to a peaceful retirement.
In this respect, the Housing and Development Board (HDB) has taken the lead with its Selective Redevelopment Scheme (SERS) whereby new apartments are built to relocate affected HDB owners before any redevelopment starts. It has made the relocation process more acceptable and convenient, especially to older folks.
For private developments, I would like to suggest that a time bar be imposed before a development can be sold en bloc. Taking into consideration the needs of senior citizens and need for re-development of old properties, it would be reasonable to allow en-bloc sale if the building is more than 30 years old from date of completion.
This advance notice would allow all owners to plan for their future accommodation, whether they intend to buy for short, medium or long term. If a person is over 50 and looking for a home to stay in till his last days, he should then consider buying a new property which will at least give some certainty that en-bloc sale will not take place for the next 30 years.
I strongly feel that the authorities should review current rules governing en-bloc sale, to give due weightage to the concerns of senior citizens, while at the same time not stifle future redevelopment.
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