SOHO Apartments Auckland - this was settled prior to going to court. There were too many big name owners and property trusts involved as owners for Strata to risk going to court against.
Strata received an indemnity in return for losing the body corporate secretary role. The indemnity means Strata cannot have action taken against it for recovery of monies in the past.
SOHO MINUTES SHOWING STRATA BEING SACKED
STRATA TITLE ADMINISTRATION - AN INTRODUCTION
Strata Title Adminstration Limited (Strata) began as Accommodation Broker Limited, had a name change to Flathold Property Limited, before becoming Strata Title Administration Limited in 1996.
The sole director is Michael Chapman-Smith. The company has 1,000 shares on the register split between 5 parties, Mr Chapman-Smith has ownership/ control of 67.5% of the shares.
Strata has been involved in several high court actions where they have been dismissed as body corporate secretary. Various rulings from the High Court have deemed parts of the Strata Body Corporate Manual to be 'ultra vires' - ie beyond the legal authority granted to Strata
The sole director is Michael Chapman-Smith. The company has 1,000 shares on the register split between 5 parties, Mr Chapman-Smith has ownership/ control of 67.5% of the shares.
Strata has been involved in several high court actions where they have been dismissed as body corporate secretary. Various rulings from the High Court have deemed parts of the Strata Body Corporate Manual to be 'ultra vires' - ie beyond the legal authority granted to Strata