GOLD FOCUS HOLDINGS LTD v. THE PERSONAL REPRESENTATIVES OF NIEH CHI CHIEH (聶志齊) (ALSO KNOWN AS NEIH CHI CHIEH(聶志齊)) (DECEASED)

GOLD FOCUS HOLDINGS LTD v. THE PERSONAL REPRESENTATIVES OF NIEH CHI CHIEH (聶志齊) (ALSO KNOWN AS NEIH CHI CHIEH(聶志齊)) (DECEASED)

Applicant met statutory requirements: owned on average over 90% of undivided shares; tribunal accepted expert EUV and RDV valuations and structural reports establishing redevelopment justified by age and state of repair; applicant took reasonable steps to acquire missing owner's share; order for sale granted and reserve price fixed at HKD 404,250,000.

Citation
[2022] HKLdT 38
Parties
Majority Owner: Applicant; Minority Owner: Respondent (missing owner)
Court
Lands Tribunal
Jurisdiction
Hong Kong
Judgment Date
12 August 2022
Case Number
LDCS14000/2021
Procedural Posture
Land (compulsory Sale for Redevelopment) Ordinance Application / Tribunal Judgment
Outcome
Order for sale granted in favour of the applicant under the Ordinance
Legal Topics
Compulsory Sale for Redevelopment, Valuation (euv and Rdv), Lease Modification Potential, Substituted Service, Appointment of Trustees, Reserve Price for Auction
Source Language
EN
Land Law Property Law Valuation Law Administrative/tribunal Law Compulsory Sale for Redevelopment Valuation (euv and Rdv) Lease Modification Potential Substituted Service +2 more

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Parties

Applicant

Majority Owner

Respondent (missing owner)

Minority Owner

Procedural Posture

Land (compulsory Sale for Redevelopment) Ordinance Application / Tribunal Judgment

Legal Issues

  1. 1 Determination of existing use value (EUV) of all units as at 10 November 2021
  2. 2 Whether redevelopment is justified due to age and state of repair under section 4(2)(a)
  3. 3 Whether applicant took reasonable steps to acquire all undivided shares under section 4(2)(b)

Ratio Decidendi

Applicant met statutory requirements: owned on average over 90% of undivided shares; tribunal accepted expert EUV and RDV valuations and structural reports establishing redevelopment justified by age and state of repair; applicant took reasonable steps to acquire missing owner's share; order for sale granted and reserve price fixed at HKD 404,250,000.

Court Disposition

Order for sale granted in favour of the applicant under the Ordinance

Orders

  • All undivided shares in the Lots be sold by public auction for redevelopment of the Lots
  • Mr Anthony W K Chow and Ms Anna S H Chow nominated by the applicant are appointed trustees to discharge duties under the Ordinance