MASS VENTURES INTERNATIONAL LTD v. ALL LUCKY DEVELOPMENT LTD AND OTHERS

MASS VENTURES INTERNATIONAL LTD v. ALL LUCKY DEVELOPMENT LTD AND OTHERS

On the evidence (uncontested by the 4th Respondent) the Building is in a dangerous and dilapidated condition and of obsolete design such that redevelopment is justified on grounds of age and state of repair; the Applicant took reasonable steps to acquire the remaining share (entered provisional agreement) and is...

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Citation
MASS VENTURES INTERNATIONAL LTD v. ALL LUCKY DEVELOPMENT LTD AND OTHERS
Parties
Applicant: Applicant; 4th Respondent: Estate of Leung Fong Sik (represented by Liang Chaoxuan)
Court
Lands Tribunal
Jurisdiction
Hong Kong
Judgment Date
10 January 2012
Case Number
LDCS20000/2010
Procedural Posture
Compulsory Sale for Redevelopment Under the Land (compulsory Sale for Redevelopment) Ordinance, Cap.545 / Hearing and Judgment in the Lands Tribunal (determination and Order for Sale)
Outcome
Application for compulsory sale granted in favour of the Applicant.
Legal Topics
Compulsory Sale for Redevelopment, Justification for Redevelopment (age/state of Repair), Reasonable Steps to Acquire Minority Shares, Valuation and Reserve Price, Apportionment of Sale Proceeds
Source Language
en
Land Law Property Valuation Building Regulation Trusts and Fiduciary Law Compulsory Sale for Redevelopment Justification for Redevelopment (age/state of Repair) Reasonable Steps to Acquire Minority Shares Valuation and Reserve Price +1 more

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Parties

Applicant

Applicant

Estate of Leung Fong Sik (represented by Liang Chaoxuan)

4th Respondent

Procedural Posture

Compulsory Sale for Redevelopment Under the Land (compulsory Sale for Redevelopment) Ordinance, Cap.545 / Hearing and Judgment in the Lands Tribunal (determination and Order for Sale)

Legal Issues

  1. 1 Whether redevelopment of the lot is justified by the age or state of repair of the building
  2. 2 Whether the applicant took reasonable steps to acquire all undivided shares in the lot
  3. 3 Whether the reserve price fixed reflects fair redevelopment value and ensures fair compensation to the minority

Ratio Decidendi

On the evidence (uncontested by the 4th Respondent) the Building is in a dangerous and dilapidated condition and of obsolete design such that redevelopment is justified on grounds of age and state of repair; the Applicant took reasonable steps to acquire the remaining share (entered provisional agreement) and is entitled to an order for compulsory sale; the Tribunal accepts the applicant's revised RDV and fixes the reserve price at HKD 333,050,000, appoints trustees and provides for apportionment and trust payment directions.

Court Disposition

Application for compulsory sale granted in favour of the Applicant.

Orders

  • All undivided shares in the Lot to be sold by public auction for purposes of redevelopment
  • Reserve price fixed at HKD 333,050,000