COURAGE INVESTMENTS LTD AND ANOTHER v. GO SIN LI alias WU SHEN LI AND OTHERS

COURAGE INVESTMENTS LTD AND ANOTHER v. GO SIN LI alias WU SHEN LI AND OTHERS

The Tribunal found applicants met the statutory ownership threshold (80% under the Gazette notice), expert evidence (structural and condition surveys) demonstrated the Building's age and poor state of repair making redevelopment justified, applicants had taken reasonable steps to purchase minority shares, and the...

Source-derived case information.

Citation
[2021] HKLdT 78
Parties
1st Applicant: Courage Investments Limited; 2nd Applicant: Century Island Holdings Limited; 1st Respondent: 1st Respondent (name not recorded); 3rd Respondent: 3rd Respondent (name not recorded); 4th Respondent: I Hing (4th Respondent)
Court
Lands Tribunal
Jurisdiction
Hong Kong
Judgment Date
21 December 2021
Case Number
LDCS17000/2020
Procedural Posture
Compulsory Sale for Redevelopment Under Land (compulsory Sale for Redevelopment) Ordinance Cap 545 / Judgment (lands Tribunal)
Outcome
Application allowed; order for sale granted by public auction for redevelopment under s4(1)(b) of the Ordinance.
Legal Topics
Compulsory Sale Order, Redevelopment Justification, Valuation (euv and Rdv), Reserve Price Determination, Reasonable Negotiation Steps to Acquire Minority Shares, State of Repair, Appointment of Sale Trustees, Adverse Possession Claim
Source Language
en
Property Law Land Law Valuation Law Administrative/tribunal Procedure Building and Construction Safety Compulsory Sale Order Redevelopment Justification Valuation (euv and Rdv) +5 more

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Parties

Courage Investments Limited

1st Applicant

Century Island Holdings Limited

2nd Applicant

1st Respondent (name not recorded)

1st Respondent

3rd Respondent (name not recorded)

3rd Respondent

I Hing (4th Respondent)

4th Respondent

Procedural Posture

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

Legal Issues

  1. 1 Whether applicants met statutory ownership threshold to apply (s3)
  2. 2 Whether redevelopment is justified by age or state of repair (s4(2)(a))
  3. 3 Whether applicants took reasonable steps to acquire minority interests (s4(2)(b))

Ratio Decidendi

The Tribunal found applicants met the statutory ownership threshold (80% under the Gazette notice), expert evidence (structural and condition surveys) demonstrated the Building's age and poor state of repair making redevelopment justified, applicants had taken reasonable steps to purchase minority shares, and the Savills EUV and RDV assessments were accepted leading to a reserve price of HKD 368,000,000; accordingly the Tribunal granted a compulsory sale order by public auction, appointed trustees and fixed sale conditions including a 6 year redevelopment completion requirement.

Court Disposition

Application allowed; order for sale granted by public auction for redevelopment under s4(1)(b) of the Ordinance.

Orders

  • Redevelopment of the Lots justified and applicants have taken reasonable steps to acquire undivided shares
  • All undivided shares in the Lots to be sold together by public auction for redevelopment under s4(1)(b)