FAIRTEX DEVELOPMENT LTD v. TSO PEE HONG AND OTHERS

FAIRTEX DEVELOPMENT LTD v. TSO PEE HONG AND OTHERS

Tribunal held applicant satisfied statutory requirements (ownership thresholds as applicable under the Gazette notice and s.3(2)(b) for each connected pair), redevelopment was justified on grounds of age and dangerous state of repair, the applicant took reasonable steps to acquire missing shares, and therefore an...

Source-derived case information.

Citation
FAIRTEX DEVELOPMENT LTD v. TSO PEE HONG AND OTHERS
Parties
Applicant: Applicant; Respondent: 1st Respondent; Respondent: 2nd Respondent; Respondent: 3rd Respondent
Court
Lands Tribunal
Jurisdiction
Hong Kong
Judgment Date
12 September 2012
Case Number
LDCS20000/2011
Procedural Posture
Land (compulsory Sale for Redevelopment) Ordinance Application / Judgment (handed Down)
Outcome
Order for sale granted in favour of Applicant; consolidated treatment of two applications and single public auction ordered for all Lots; reserve price fixed at HKD 239,000,000; proceeds apportionment and other directions specified.
Legal Topics
Section 3(1) Ownership Threshold, Section 3(2)(b) Composite Site, Section 4(2) Justification and Reasonable Steps, Reserve Price Determination, Existing Use Value (euv) Apportionment, Service Dispensed and Substituted Service
Source Language
en
Land Law Compulsory Sale/compulsory Acquisition Building and Safety Regulation Civil Procedure Section 3(1) Ownership Threshold Section 3(2)(b) Composite Site Section 4(2) Justification and Reasonable Steps Reserve Price Determination +2 more

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Parties

Applicant

Applicant

1st Respondent

Respondent

2nd Respondent

Respondent

3rd Respondent

Respondent

Procedural Posture

Land (compulsory Sale for Redevelopment) Ordinance Application / Judgment (handed Down)

Legal Issues

  1. 1 Whether the applicant satisfied the statutory ownership threshold to apply under s.3(1) as modified by s.3(5) notice
  2. 2 Whether multiple lots (four lots) may be sold together as one composite site under s.3(2)(b) / consolidation of applications
  3. 3 Whether redevelopment of the buildings is justified by age or state of repair under s.4(2)

Ratio Decidendi

Tribunal held applicant satisfied statutory requirements (ownership thresholds as applicable under the Gazette notice and s.3(2)(b) for each connected pair), redevelopment was justified on grounds of age and dangerous state of repair, the applicant took reasonable steps to acquire missing shares, and therefore an order for sale was granted; the Tribunal treated the filing as two applications (one per pair) consolidated for hearing and ordered one combined public auction with reserve price set at the assessed redevelopment value of HKD 239,000,000 and specified apportionment rules for proceeds.

Court Disposition

Order for sale granted in favour of Applicant; consolidated treatment of two applications and single public auction ordered for all Lots; reserve price fixed at HKD 239,000,000; proceeds apportionment and other directions specified.

Orders

  • All undivided shares in Group A Lots (Nos.196 & 198 Ma Tau Wai Road) and Group B Lots (Nos.200 & 202 Ma Tau Wai Road) to be sold together by one public auction for redevelopment under s.4(1)(b) of Cap.545
  • Reserve price for the Lots set at HKD 239,000,000