ASIA HARBOUR INVESTMENT LTD v. SINO MASTER GROUP LTD AND OTHERS

ASIA HARBOUR INVESTMENT LTD v. SINO MASTER GROUP LTD AND OTHERS

The Tribunal found the applicant met the lowered threshold of 80% under the 2010 Notice and was therefore entitled to apply; accepted expert evidence that redevelopment was justified by the age and state of repair; accepted Mr C.W. Wong's EUV assessments for the purposes of compensation and was satisfied the applicant had taken reasonable steps to acquire minority shares by making multiple offers that were above EUV and within the broad band of fair and reasonable compensation; determined the composite RDV/land value of the Lots at HK$2,045,000,000 and fixed that as the reserve price for auction; accordingly made an order for compulsory sale by public auction under section 4(1)(b) with...

Citation
[2020] HKLdT 55
Parties
Applicant: Applicant; Respondent: 5th Respondent; Respondent: 7th Respondent; Respondent: 8th Respondent; Respondent: 10th Respondent; Respondent: 12th Respondent; Respondent: 15th Respondent
Court
Lands Tribunal
Jurisdiction
Hong Kong
Judgment Date
27 November 2020
Case Number
LDCS4000/2017
Procedural Posture
Compulsory Sale Application Under Land (compulsory Sale for Redevelopment) Ordinance Cap 545 / Final Judgment (lands Tribunal)
Outcome
Application granted in part: compulsory sale order made under s.4(1)(b) of the Land (Compulsory Sale for Redevelopment) Ordinance; RDV/land value adopted and reserve price fixed; trustees appointed; costs ordered
Legal Topics
Redevelopment, Threshold Percentage, Existing Use Value (euv), Redevelopment Value (rdv), Reasonable Steps to Acquire Minority Shares, Reserve Price, Trustees Appointment, Costs
Source Language
EN
Land Law Property Law Compulsory Sale Valuation Redevelopment Threshold Percentage Existing Use Value (euv) Redevelopment Value (rdv) +4 more

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Parties

Applicant

Applicant

5th Respondent

Respondent

7th Respondent

Respondent

8th Respondent

Respondent

10th Respondent

Respondent

12th Respondent

Respondent

15th Respondent

Respondent

Procedural Posture

Compulsory Sale Application Under Land (compulsory Sale for Redevelopment) Ordinance Cap 545 / Final Judgment (lands Tribunal)

Legal Issues

  1. 1 Whether applicant was entitled to make the application under the Ordinance (threshold ownership)
  2. 2 Whether redevelopment of the Lots was justified by the age or state of repair of the Buildings under section 4(2)(a)(i)
  3. 3 Whether the applicant had taken reasonable steps to acquire all undivided shares on fair and reasonable terms under section 4(2)(b)

Ratio Decidendi

The Tribunal found the applicant met the lowered threshold of 80% under the 2010 Notice and was therefore entitled to apply; accepted expert evidence that redevelopment was justified by the age and state of repair; accepted Mr C.W. Wong's EUV assessments for the purposes of compensation and was satisfied the applicant had taken reasonable steps to acquire minority shares by making multiple offers that were above EUV and within the broad band of fair and reasonable compensation; determined the composite RDV/land value of the Lots at HK$2,045,000,000 and fixed that as the reserve price for auction; accordingly made an order for compulsory sale by public auction under section 4(1)(b) with...

Court Disposition

Application granted in part: compulsory sale order made under s.4(1)(b) of the Land (Compulsory Sale for Redevelopment) Ordinance; RDV/land value adopted and reserve price fixed; trustees appointed; costs ordered

Orders

  • Redevelopment of the Lots justified and applicant has taken reasonable steps to acquire undivided shares
  • All undivided shares in the Lots to be sold by public auction for redevelopment under s.4(1)(b) of the Ordinance