CRUNCHER

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About CRUNCHER

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  1. My own experience - I have been with HSBC UK for over 50 years, since they were the Midland Bank, I have not lived in UK since 1975. Since then they have had and used my overseas address where ever that happened to be.
  2. Any developments? I sure miss that bookshop.
  3. Was this the Emerald Nirvana? Nearly bought because it looked a good project until I discovered the developer only had an option to buy the land.
  4. If City Hall lets this drag on, in 10 years time it will be leaning like Pizza as well.
  5. That sign was there when Tulip was still in control. It just meant that one of the two doors was not working
  6. I think the expression is "a lawyers gravy train"
  7. The closure of the sales office came a couple of days after Bali Hai filed for bankruptcy protection, a process which could drag on for up to 7 years. It has been suggested that City Hall were upset by Bali Hai's action, because they wanted Bali Hai to slip into bankruptcy to remove the requirement for City Hall to authorize continued construction. The problem seems to be that nobody at City Hall wants to make the decision one way or the other, which is why this has dragged on for so long. I cannot vouch for the suggestion, but my source is someone who used to work in City Hall
  8. Pettiness on the part of City Hall???
  9. I believe the sales office was closed in January by order of City Hall. Looking at the sketch it looks like a case of encroachment. All I can say is that it has taken City Hall two and half years of having Waterfront under the microscope to work this out and do something about it. If that is the level of efficiency of City Hall it is small wonder that this is taking so long to resolve. Whatever faults that Bali Hai might or might not have, it is clear that a major contributing factor to this fiasco lies at the door of City Hall.
  10. I wouldn't even like to try. Do you know?
  11. Actually Bali Hai is the legal owner of the Waterfront project. Bali Hai in turn is owned by Park Plaza Hotels/Red Sea
  12. Don't worry. It will fall down before then. City Hall would not even allow Bali Hai to carry out maintenance or safety checks.
  13. I don't know much about the Thai bankruptcy laws, but as I understand it the bank is likely to be the only secured creditor via a lien on the land (but not the building). Even if the bank can sell the land (difficult) there will not be much left over when they get their money back. I believe City Hall will have no priority. Bali Hai will not have much in the way of other assets and unsecured creditors will be lucky to get ten cents on the dollar. If I am right the tax payer will foot the bill - if it ever gets demolished. The current bankruptcy protection proceeding can drag on for 5 or 7 years, I am not sure which There are still examples in Bangkok from the 1997 financial crisis.