Court orders appointment of receiver and manager

The Star 17/04/2001
 
A High Court yesterday ordered, by consent, the appointment of a receiver and manager to continue with the completion of a stalled medium-cost apartment project in Jalan Lumba Kuda.

Justice Md Raus Sharif recorded the consent after counsel K.Thangesvaran for plaintiffs U.G.Jayantha and Lim Beng Poh, and counsel K.Saravana Kumar for defendant Ever Noble Sdn Bhd informed the court that both parties had agreed to appoint Datuk Ong Gim Huat and Teoh Teik Huat as either a single or joint Receiver and Manager in accordance with a memorandum of understanding between the parties on Oct 6, last year.

The consent order also recorded that Ever Noble as developer of the project defaulted in its contractual obligations to the 205 purchasers as the company had failed to complete construction and hand over possession of the apartment units to them.

It was also agreed that since the developer had defaulted in its contractual obligations, the buyers were entitled to terminate their sales and purchase agreement and enter a claim against the developer for damages.

Jayantha as chairman and Lim as secretary of the Menara Kuda Lari Purchasers' Committee who brought the action on behalf of themselves and 193 other buyers, in their affidavit said Ever Noble was the developer of Menara Kuda Lari which consists of 219 units.

The project commenced in December 1994 and vacant possession was scheduled to have been given to the buyers within 36 months of the commencement of the sales and purchase agreement.

Later, outside court Lim appealed to the buyers to pay up their balance payment to enable the project to proceed smoothly.

"Lim also appealed to purchasers for co-operation in settling the balance payment because without the money, the project even though with the order, cannot go on.''