Special Levy – How To Address Payment Plan Request

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  • 08/10/2015 at 6:58 pm #10192 Reply | Quote
    SnOwl
    Flatchatter

       Hi 

      Firstly, my apologies, I searched but could not find the right topic to add on to.

      After much investigation/due diligence, our Owners Corp. (OC) has voted to accept a number of special levies over taking out a strata loan in order to address the building defects in our young building. Some key points:

      1. The builder and developer are both bankrupt

      2. There is no building warranty insurance to claim against (legally they did not need to have this insurance for a development greater than 3 storeys)

      3. We have been down the path of legal advice, etc. (no joy to be had)

      4. We are a medium sized strata plan (<100 units)

      5. Total of the special levy per unit is approximately 25k

      My question is this:

      Has anyone had experience where an owner/s have sought approval to implement a payment plan. If so, what learning’s are you able to share and how was it addressed?

      Many thanks in advance,

      Smile

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    Reply To: Special Levy – How To Address Payment Plan Request
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