Hi Glenngates, VP is the date whereby developer(UEM) states that units are ready and buyers can collect their keys, not the date you collect your keys. For your case, UOB didn't pay UEM and thus UEM cannot release your unit, that by itself is fair to both parties. But the thing is that there can be different reasons for such a delay, thus investigation is needed.
If it is later found after investigation that the delay was caused by your bank(UOB) or your lawyer, you'll be the one liable for the late-payment interest due to UEM. But if it is found that the delay was caused by UEM, then UEM will cancel out the portion of the late-payment interest which was due to their own delay.
I think you are right in your case that if UEM was the one who caused the delay which resulted in UOB being unable to release payment and thus UEM themselves ended up delaying the handover of your unit to you, then UEM should pay you LAD up till the date they resolved their own issue. That's my thought. Don't worry though, if they really find that it was their delay, they'll surely pay you without batting an eyelid. So far, they have paid more than one bungalow buyers of Phase Two - RM2xx,xxx each. As for Phase Three, most of the buyers will soon be getting RM2xx,xxx each.
