CRUNCHER

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About CRUNCHER

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  1. I wouldn't even like to try. Do you know?
  2. Actually Bali Hai is the legal owner of the Waterfront project. Bali Hai in turn is owned by Park Plaza Hotels/Red Sea
  3. Don't worry. It will fall down before then. City Hall would not even allow Bali Hai to carry out maintenance or safety checks.
  4. 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.
  5. Problem is, if Bali Hai is bankrupt, where does City Hall send the bill?
  6. Again you are right. If Bali Hai goes to the wall the permit will lapse. They will not be able to demolish. The bank will take the land that will be worth peanuts. The bank wont put more money in to demolish. Who will buy the land with that shell on it? No one. As you said City Hall can't afford to demolish and would probably screw it up anyway.
  7. You are right Pattayadude. It is time to sort this farce out one way or another. The developer has put some information into the public domain, but I doubt he has disclosed everything. City Hall has put nothing in the public domain which I find surprising. You would think they would want to offer something to justify their position. City Hall waited for about (if my memory serves me right) 2 weeks after the building was topped off before issuing the stop order. I find the timing odd to say the least, but perhaps I am being overly suspicious. Certainly they should have acted much sooner if this was necessary. Beauty is in the eye of the beholder. Personally I think when (and if) finished it will look good. Others disagree and I respect their opinion. Whichever side of the equation you are on, I suspect that most people would prefer to see it finished rather than have the shell remain in that state for the next 10 years. That is what will happen, with the inevitable litigation, if the project is ended.
  8. A spectacular failure. About 1 - 2 pm today the area around Bali Hai was grid locked chaos. It stretched right back to Theppreya and the fly over. The traffic lights at the junction of Theppreya/Third Road were not much use as the junction was permanently blocked by tour buses. When the lights changed no one could move because of buses in the middle of the junction. Not a policeman in sight.
  9. The mobile number posted on the door is no longer active. Anyone got an update? Any alternative in the city apart fro Canterbury Tales which I do not rate highly.
  10. First I have heard of this. When was the case, which court and who was the plaintiff(s)
  11. Northshore to name but one.
  12. It also seems from the Nation's article that an EIA presentation is necessary. So perhaps it is not all done and dusted yet. Don't forget the (world wide) media motto - "Never let the facts get in the way of a good story."
  13. An article in the Nation gives more details. The difference between the removal of 5 or 8 floor is now clear. The original permit was for 53 floors. Tulip reduced that to 50 floors on taking over the project. The current management has agreed to remove a further 5 floor to make 45 floor. According to the article construction has started again. http://www.nationmultimedia.com/news/business/property/30301552
  14. Surely if he is involved in a lawsuit he can get 90 day extensions until the case is concluded? Also if he could get back in on a tourist visa he cannot be on the blacklist. This sounds like visa/working issues. Something similar happened to someone I know. Immigration put him on the plane, removed the handcuffs and told him he could come back with a new visa and start the process for a work permit again.