Fun Hideout

Looking for a quiet, chill out place after a dinner can be quite challenging, especially in the town area. It's practically crowded everywhere!

I'm sure it's a common "headache" for more people. I'm almost bursting with joys when I found such a place in the town.

Where is it?

Cannot share la.. share liao, everyone will know....

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In my opinion, a real successful entrepreneur may not win any award in his whole life. But he is successful because he manages to stay in business for years, create jobs for employee ( and pay them promptly), provide the services/ goods to his customers dutifully as an exchange of monetary terms.. At the same time, he builds good relationship and credibility with his suppliers and partners.

In case some of you are not aware, please check here for latest update: http://www.case.org.sg/news.html

In short, SS is in liquidation stage, meaning "no legal action can be taken without the approval of the Court "  =_=

I'm rather in an awakward situation. I previously signed up with True Spa in 2008. After the "takeover" of TS, I was counselled to convert to SS so that I can utilise my remaining balance package. Now with the winding up of SS, I cant lodge a case to SCT against SS. On the other hand, I dont know whether I can lodge a case to TS, since I have done a conversion to SS.

My own stupidity, I did not ask for a copy of the so-called conversion agreement to SS. Therefore, I am now left with a fading contract with TS and no other evidence to support my claims. Worse, I'm still servicing my installment plans even though no services can be rendered.

Any similar cases out there? =(

This is also similiar to the case of Wellness Village in 2009.

http://www.channelnewsasia.com/stories/singaporelocalnews/view/1017622/1/.html

A history repeating itself or a lesson not learnt at all? Why is this being allowed to happen again?

The loser is always the customers. The banks are protected, since the liability still lies with the credit card holders aka the customers. At most, the banks can waive off on the basis of goodwill, but it will never be an obligation since the banks are running a business as well.

The spa owners can go "scot-free" without even having to apologise publicly since the liability lies with the entity, aka the company. Once the company is liquidated, customers as unsecured creditors can no longer commence legal actions against the company,until the court permits. The liquidators will come into the picture, sell of whatsoever assets the company has and the proceeds will be distributed out in order of priority:

1. The fees and charges of the liquidation/bankruptcy.

2. Debts due to preferential creditors,. These debts are set out in the Insolvency Act 1986 and include wages owed in the four months before the date of the insolvency order and contributions to occupational pension schemes.
3. In company cases, any creditor holding a floating charge over an asset, such as a debenture.
4. All unsecured creditors.
5. Any interest payable on debts.
6. In company cases, the shareholders.

The order of priority is quoted from online.  Based on my memory of my Business Law course in uni, govt bodies such as IRAS is also one of the top few and unsecured creditors like customers and employees are almost the last of the order..

All and all, chances of me getting back my package is dim... Super bad mood. Whoever gonna ask me to sign up for any package in future, I sure bite! GRRRR... GRRR...

Oh great, Subtle Senses seems to be closed (for good?) when customers appeared at the door yesterday, 16 October 2010.

This is worse than True Spa. At least, True Spa attemped to inform all its existing customers by sending a letter and giving us promises that never hold water. Oh I guess, I meant at least I was officially informed of TS's close down. Subtle Senses? Not a single letter or call. Too poor to even do that or simply, too irresponsible?

Many had filed to Small Claims Tribunals, but the process is simply tedious which does not promise higher chances of sucess rate.

First of all, you need to fill in a form and then pay a fee (e.g $10 if you are claiming quantum less than $5K). In addition, you need to produce the entity's business profile, which you need to pay (yes again) from ACRA.

Afterwhich, you need to undergo consultation/mediation. If the matter is not resolved, a hearing will be fixed. Oh ya, you also need to have witnesses as well.

I just wish that the process can be simpler. Isnt the law suppose to help the innocent parties, in my case, innocent customer like myself who have dutifully pay my installment promptly every month? I really dun wan to waste time (taking AL to attend the hearing), effort and money and yet not having a fruitful outcome. Is there any easier solution? I dont need to have full claim of my unutilised package if it means that more people can have some of their unutilised package back. And I dun like the fact that while these are going on, the spa are still getting new members.

Obviously with so much negativity going on, shouldnt something concrete being done such as preventing spa from signing up more customers that it can handle? Shouldnt there be checks and controls to ensure the sustainability of a company, especially for businesses that have direct dealings with innocent, helpless consumers.

As quoted in the news, TS/SS has about 17,000 to 18,000 customers, with only 2 outlets at Mosque Street and Cuppage. Now it becomes zero outlet unless the close down of Subtle Senses is only temporary, which I doubt so.