Chans to keep Everitt house
A FAMILY being sued by their bank for defaulting on their
mortgage will get to keep their home in Everitt Road.
Yesterday, DBS Bank withdrew its suit after the Chan family -
who gained media notoriety for their longstanding feuds with
neighbours - agreed to make regular payments for the outstanding
amount.
The bank's lawyer Alfonso Ang said the bank's intention 'had
always been to work out an amicable solution with their customers'.
DBS had sought to turn the Chans out of their home for allegedly
missing payments on a loan, applying for a High Court order to
possess the property.
Retiree Chan Cheng Khoon, 74, has lived in the Joo Chiat home
for more than 15 years with his wife and one of their
daughters.
The debt was owed on a loan from DBS Bank in December 2002 and
secured by a mortgage on the house. As of May last year, the family
owed the bank more than $200,000.
The Chans made headlines after some widely publicised conflicts
with seven families in the neighbourhood from 2004 to 2006. The
dispute began over a parking space, but soon escalated into a
tit-for-tat turf war involving chains, video cameras and
allegations of abuse on both sides. Three of the families have
since moved out.
--ST