If the market was in a better place I would be worried that the new buyers would simply terminate the current unit purchase APSs. Luckily, market isn't in that state unless the receiver can wait 12-18 months - doubtful.
13+ storeys would set precedent for this direct area. It'll be interesting to see if other assemblies start to form in nearby lands. IN8 proposal down the street furthers this trend.
Ehhh. Only time this happens is when buyers rush into deals that they do not fully understand. Any lawyer/agent in the new home space would instantly see red flags. It'll damage a developer's reputation, but if its going to backstop a few million in losses, it's tempting.