Leasing Terms - Tenancy Agreement - Page 2

Originally Posted by lawrence

you are lucky that the term is only 6 month term. i am in your shoe as well, i was at one of the lousy mall as well, but mine is 2 yrs term. i run away in one yrs.

I have check with the lawyer, the mall weather will take action got 4 ways.
they will send lawyer letter, then ganish (frezzse)the company acc (pte Ltd, LLP). then sue to wind up company then sue personal acc (garnish it) then sue for bankrupcy.

My incident happen last year and to date they only sue still ganish account. Have yet to sue winding up company.

All in all, legel fee is already 20k. the amount is added with the rest of the tenacy say 5k per month left with 1 yr lease therefore will be 5k x 12 month= 60k plus the legel fee of 20k, amounting to 80k.

unless you have private property asset, then the chances for them to sue is high, if you have nothing, then most prob they will do nothing. cos this time is ecomocy down turn. there might be more retail closing down.

in other have to see weather your acc with the mall is a sole proprite or a pte ltd.