nacim-x
09-06-2006, 05:57 AM
السلام عليكم
إخواني ممكن ترجمة هذا النص القانوني إلى العربية أنا برجمت و أريد ان أتأكد
THE PROPOSED APPLICATION TO THE HIGH COURT OF , TO SANCTION THE SALE OF SOME OF THE PROPERTIES BELONGING TO THE RELATIONS SETTLEMENT
A. Refurbishment of Relations Properties in 2003
As you may know, we are the trustees of the Relations Settlement.
We understand that you are one of the descendants of the late Jack, through the male line of either:
As such, you may be entitled to be considered by us for payment of income from the Relations Settlement.
The Relations Settlement owns the following properties: No. 17 Purvis Street (the “Purvi Street Property”) and Nos. 137, 139, 141, 143 dand 215 Jalan Besar (the “Jalan Besard Properties”) (collectively the “Relations Properties”).
In or about April 1997, the Public Works Department informed us that the Building Authority was of the opinion that the Purvis Street Property was likely to be dangerous. Similar notifications were also received in respect of 18-20 Purvis Street, which were comprised in another settlement created by the late jack (the “Charity Settlement”).
As the Relations Settlement lacked funds to refurbish the Purvis Street Property, we engaged Edmund Tie & Company (“ETC”), a reputable firm of international property advisers, to conduct a feasibility study to evaluate the options available under these circumstances.
We were advised by ETC that in the long term, it would be more viable to refurbish and retain all the Relations Properties for the improved rental income after refurbishment rather than to dispose of the Relations Properties and to reinvest the sale proceeds. This refurbishment option would also allow the Relations Properties to be retained for future capital gains, as well as to minimise the threat of compulsory acquisition. After careful consideration of ETC’s advice, we reached the conclusion that it would be in the interest of the Relations Settlement as a whole to proceed with the mortgage and to refurbish the Relations Properties.
Accordingly, we accepted ETC’s recommendation and sought the Court’s permission to mortgage the Relations Properties to finance the refurbishment of the Relations Properties. On 8 September 2000, we obtained an Order of Court granting our application.
Pursuant to the Order of Court, we obtained a facility from International Factors Leasing Pte Ltd (“IFS”). This facility was secured by a mortgage over the Relations Properties. Using the facility, we drew down a sum of $2,475,767.52 to refurbish the Relations Properties (the “Relations Mortgage Loan”).
The Relations Mortgage Loan was to be repaid by way of 120 monthly instalments from January 2004 through December 2013. Each monthly instalment comprised a principal sum of S$22,771 plus further interest.
إخواني ممكن ترجمة هذا النص القانوني إلى العربية أنا برجمت و أريد ان أتأكد
THE PROPOSED APPLICATION TO THE HIGH COURT OF , TO SANCTION THE SALE OF SOME OF THE PROPERTIES BELONGING TO THE RELATIONS SETTLEMENT
A. Refurbishment of Relations Properties in 2003
As you may know, we are the trustees of the Relations Settlement.
We understand that you are one of the descendants of the late Jack, through the male line of either:
As such, you may be entitled to be considered by us for payment of income from the Relations Settlement.
The Relations Settlement owns the following properties: No. 17 Purvis Street (the “Purvi Street Property”) and Nos. 137, 139, 141, 143 dand 215 Jalan Besar (the “Jalan Besard Properties”) (collectively the “Relations Properties”).
In or about April 1997, the Public Works Department informed us that the Building Authority was of the opinion that the Purvis Street Property was likely to be dangerous. Similar notifications were also received in respect of 18-20 Purvis Street, which were comprised in another settlement created by the late jack (the “Charity Settlement”).
As the Relations Settlement lacked funds to refurbish the Purvis Street Property, we engaged Edmund Tie & Company (“ETC”), a reputable firm of international property advisers, to conduct a feasibility study to evaluate the options available under these circumstances.
We were advised by ETC that in the long term, it would be more viable to refurbish and retain all the Relations Properties for the improved rental income after refurbishment rather than to dispose of the Relations Properties and to reinvest the sale proceeds. This refurbishment option would also allow the Relations Properties to be retained for future capital gains, as well as to minimise the threat of compulsory acquisition. After careful consideration of ETC’s advice, we reached the conclusion that it would be in the interest of the Relations Settlement as a whole to proceed with the mortgage and to refurbish the Relations Properties.
Accordingly, we accepted ETC’s recommendation and sought the Court’s permission to mortgage the Relations Properties to finance the refurbishment of the Relations Properties. On 8 September 2000, we obtained an Order of Court granting our application.
Pursuant to the Order of Court, we obtained a facility from International Factors Leasing Pte Ltd (“IFS”). This facility was secured by a mortgage over the Relations Properties. Using the facility, we drew down a sum of $2,475,767.52 to refurbish the Relations Properties (the “Relations Mortgage Loan”).
The Relations Mortgage Loan was to be repaid by way of 120 monthly instalments from January 2004 through December 2013. Each monthly instalment comprised a principal sum of S$22,771 plus further interest.