Hong Kong Case Law: Decisions & Judgments

Topic

Appointment of sale trustees

Legal area

Court

29 Feb 2024

BILLION GLORY PROPERTIES LTD AND OTHERS v. LI BAOZHU AND OTHERS

Citation

[2024] HKLdT 17
Court

Lands Tribunal
Case number

LDCS23000/2019

On the evidence the applicants met the applicable 80% ownership threshold; credible expert building condition and structural evidence established the building is materially aged, functionally and structurally obsolete such that redevelopment is justified; applicants took reasonable steps to acquire remaining shares; Tribunal accepted the Alternative Scheme parameters, applied agreed and tribunal-preferred valuation adjustments, adopted developer's profit of 22.5% and discount/finance rate of 5.5%, computed EUV at HK$1,591,340,000 and RDV/land value at HK$2,425,000,000 and ordered compulsory s…
19 Oct 2022

APEX INTELLIGENCE LTD v. CHAN HOI KUEN AND OTHERS

Citation

[2022] HKLdT 55
Court

Lands Tribunal
Case number

LDCS5000/2019

Tribunal held applicant entitled to bring the application under s.3(2)(b) applying the averaging exception because the buildings are connected by a staircase for common use; redevelopment was justified by age and structural/state-of-repair evidence; applicant had taken reasonable steps to acquire remaining interests where owners were missing or estates were restrained; Tribunal determined RDV at HKD 260,000,000, ordered sale of all undivided shares by public auction with appointed trustees, directed discharge or vesting arrangements for listed incumbrances and made specified costs orders.
6 Sept 2022

GAIN UNION LTD v. LEUNG CHI MAN

Citation

[2022] HKLdT 44
Court

Lands Tribunal
Case number

LDCS5000/2021

The Tribunal found the applicant met the statutory threshold (80% applicable) at the time of application, redevelopment was justified by the age and materially degraded structural condition of the building (expert structural and condition reports), the applicant had taken reasonable steps to acquire the respondent's interest including making successive offers that fell within a fair and reasonable band, adopted the EUV share for the respondent at 4.9220% (scenario excluding value of UBWs), determined the RDV of the lot at HKD 120,000,000 and fixed that as the reserve price, appointed nominate…
5 Jan 2022

TOP PRINCE LTD v. TSANG SUI CHUN (曾瑞珍), the intended Administratrix of the Estate of CHOW YIN WAH (周燕華), deceased

Citation

[2022] HKLdT 1
Court

Lands Tribunal
Case number

LDCS33000/2020

The Tribunal granted the compulsory sale order because the applicant satisfied the statutory 90% threshold, produced unchallenged expert evidence establishing that the Building's age and extensive state of disrepair justified redevelopment, demonstrated it had taken reasonable steps to acquire remaining interests, and provided valuation evidence supporting a reserve price; accordingly the Lot was ordered sold by public auction with trustees appointed and costs awarded to the respondent under the compensation approach.
21 Dec 2021

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

Citation

[2021] HKLdT 78
Court

Lands Tribunal
Case number

LDCS17000/2020

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.
23 Nov 2021

FANCY MILLION LTD AND OTHERS v. YEAR GLORY LTD AND OTHERS

Citation

[2021] HKLdT 76
Court

Lands Tribunal
Case number

LDCS15000/2018

The Tribunal found that the applicants met the statutory entitlement (80% threshold under the Gazette Notice), proved redevelopment is justified by the age and state of repair of the Building on the evidence of experts and comparative repair/construction cost analysis, and demonstrated they took reasonable steps to purchase the remaining interests; accordingly the Tribunal ordered sale of all undivided shares by public auction, set the reserve price at HKD 705,000,000, appointed the nominated trustees, approved the sale particulars subject to finalization, and made a costs order nisi with spe…
9 Jul 2021

JOINT HOPE LTD v. VECENT HONG KONG TRADING LTD AND OTHERS

Citation

[2021] HKLdT 51
Court

Lands Tribunal
Case number

LDCS21000/2019

The Tribunal held the applicant met the lowered 80% threshold under the Notice and, on uncontradicted expert evidence (building surveyor and structural engineer), redevelopment was justified due to the age and poor state of repair; the applicant had taken reasonable steps to acquire remaining interests; the Tribunal accepted the applicant's valuation methodology and residual valuation inputs subject to adjustments and set a reserve price derived from that RDV at HKD 805,000,000; ordered sale by public auction, appointed trustees and awarded respondents' costs on the High Court scale.
27 Mar 2020

SARFORD DEVELOPMENT LTD AND OTHERS v. SUPER STAR PROPERTIES LTD AND ANOTHER

Citation

[2020] HKLdT 8
Court

Lands Tribunal
Case number

LDCS14000/2018

Applicants met the statutory ownership threshold (80% applicable) and produced unchallenged expert evidence that the buildings are over 50 years old and in poor state of repair such that redevelopment is justified; applicants took reasonable steps to acquire remaining shares (offers above the EUV); on valuation disputes the Tribunal adopted a reasoned mix of comparable-based and investment approaches for EUV and a residual method for RDV, arriving at a land/RDV/reserve price of HKD 131,690,000; accordingly a compulsory sale by public auction was ordered with trustees appointed and costs to ap…
26 Mar 2018

ASIA HERO (H.K.) LTD AND OTHERS v. PRIME WAY INVESTMENT CO LTD AND OTHERS

Citation

[2018] HKLdT 21
Court

Lands Tribunal
Case number

LDCS4000/2016

Applicants satisfied statutory entitlement (threshold reduced to 80% and applicants held ~90%); expert evidence established the buildings were over 50 years old and in a poor, structurally and functionally defective state making redevelopment justified; applicants had taken reasonable steps to acquire remaining interests; Tribunal resolved valuation disputes, determined EUV and RDV using residual method and comparables adjustments, fixed reserve price at HKD 386,391,000, appointed trustees and ordered sale by public auction; costs awarded to respondents.
7 May 2014

DAY BRIGHT DEVELOPMENT LTD AND OTHERS v. CHOW BOWEN CHUN-SING AND OTHERS

Citation

DAY BRIGHT DEVELOPMENT LTD AND OTHERS v. CHOW BOWEN CHUN-SING AND OTHERS
Court

Lands Tribunal
Case number

LDCS20000/2012

Applicants satisfied statutory ownership threshold under the Ordinance read with the Gazette notice; expert valuation evidence of EUV was accepted as fair and reasonable for minority owners; independent structural and building surveys established the Building is beyond reasonable economic repair and redevelopment is justified; applicants proved they took reasonable steps to acquire remaining shares; accordingly the Tribunal ordered compulsory sale by public auction with reserve price set at the assessed RDV of HKD 421,000,000 and appointed trustees to conduct sale.