Ah good, that sounds like a clear path to resolving that situation. When the OMC is reinstated, and financial statements are up to date, the value of the apartments should rise. Best of luck!Thanks Learner for the reply.
In my case it is that the OMC was struck off a long time ago.
The MUD has four units and all the other owners are agreeable with reinstating the OMC and funding this.
There is no developer in the mix. I am in contact with all the owners.
I did some research and believe it is fairly straightforward if a specialist company is hired to do the job.
The legal fees and CRO penaltys are set so submitting the B1's for the missing years is the biggest cost.
The company I contacted said it would take between three and six months to complete.
Hopefully this is accurate.