Hong Kong Case Law: Decisions & Judgments

Topic

Auction reserve price

Legal area

Court

19 Sept 2023

NEW MERIT LTD v. LAU SO AND ANOTHER

Citation

[2023] HKLdT 57
Court

Lands Tribunal
Case number

LDCS3000/2022

Tribunal accepted the applicant met the statutory ownership threshold (80%), found on the evidence (condition and structural reports) that redevelopment was justified due to the age and poor state of repair of the building, concluded the applicant had taken reasonable steps to purchase remaining interests, accepted the expert valuation approach with specified adjustments, determined EUV at HKD 124,267,000 and RDV/reserve price at HKD 137,122,000, and ordered compulsory sale by public auction with appointment of trustees and costs payable by applicant to respondents.
14 Aug 2017

CHAN WAH SHING AND ANOTHER v. CHAN PING AND ANOTHER

Citation

CHAN WAH SHING AND ANOTHER v. CHAN PING AND ANOTHER
Court

Court of First Instance
Case number

HCA2354/2014

The court concluded that the property assets should be sold and proceeds distributed among the brothers in accordance with the agreed mechanics where those existed or otherwise under s6 of the Partition Ordinance; undisputed payments made by the plaintiffs are to be reimbursed, but entitlement to interest and whether payments were made of necessity required assessment and the unresolved issue of reserve price for auction must be fixed by valuation or further court direction if the parties cannot agree.
29 Feb 2016

ORIENTAL GENERATION LTD AND OTHERS v. LUK YUNG AND OTHERS

Citation

ORIENTAL GENERATION LTD AND OTHERS v. LUK YUNG AND OTHERS
Court

Lands Tribunal
Case number

LDCS4000/2013

The Tribunal held applicants satisfied statutory ownership threshold and had taken reasonable steps; accepted Savills' direct-comparison EUV including specific CPS adjustments and accepted agreed RDV of HK$2,293,000,000 reached by valuation experts; rejected inclusion of speculative hope value because the legal chance of removing the lease height restriction at nil premium was not shown to be a reasonable (>50%) prospect; ordered compulsory sale by public auction with reserve price HK$2,293,000,000, appointed trustees and solicitors and made costs order nisi.
29 Jul 2013

李對何

Citation

李對何
Court

Family Court
Case number

FCMC2978/2005

The court held the 2011 ancillary relief order required sale of the two matrimonial properties and distribution of net proceeds in accordance with the adjudicated percentage (as altered to 60:40 by the Court of Appeal); the order did not permit the respondent to discharge obligations by a single lump‑sum payment or by paying only 60% as a private repurchase; purchases must be effected by open market sale at not less than 80% of the valuer's reported valuation; accordingly the court granted parts 2–4 of summons 1, dismissed summons 2, granted a nine‑month extension to permit public auction of…
28 Apr 2011

GENTWAY LTD v. LI KING FONG AND OTHERS

Citation

GENTWAY LTD v. LI KING FONG AND OTHERS
Court

Lands Tribunal
Case number

LDCS1000/2010

The Tribunal granted the compulsory sale because the applicant proved (1) the EUV valuations were fair and reasonable, (2) the building was dilapidated and redevelopment was justified, and (3) the applicant took reasonable steps to acquire outstanding shares; accordingly the Tribunal ordered sale by public auction with a reserve price equal to the redevelopment valuation of $291,000,000.
3 Dec 2010

WEALRISE INVESTMENTS LTD v. LEUNG CHI KEUNG

Citation

WEALRISE INVESTMENTS LTD v. LEUNG CHI KEUNG
Court

Lands Tribunal
Case number

LDCS8000/2009

On the accepted expert evidence the existing buildings were structurally dangerous and redevelopment was justified; the Applicant took reasonable steps to acquire all undivided shares by making offers which, when assessed against the expert valuation of redevelopment value $68,100,000 and the statutory apportionment (Respondent's pro rata 7.83% = $5,332,230), were fair and reasonable; accordingly an order for compulsory sale was granted and the auction reserve price set at $68,100,000; costs were awarded to the Applicant.
19 Nov 2010

PANDIX LTD v. TSE OY MOON

Citation

PANDIX LTD v. TSE OY MOON
Court

Lands Tribunal
Case number

LDCS3000/2009

The Tribunal granted the compulsory sale because the Applicant proved by credible expert evidence that the existing buildings were structurally unsafe and beyond their design life (thus redevelopment justified), established that reasonable steps and multiple fair offers were made to acquire the Respondent's undivided share with no substantive response or proof of representation, and demonstrated that the EUV valuations and proposed auction reserve (HK$72,000,000) were reasonable; accordingly an order for sale by public auction with nominated trustees and ancillary directions was warranted.
31 Aug 2010

EASE KIND DEVELOPMENT LTD v. HSBC PRIVATE TRUSTEE AND OTHERS

Citation

EASE KIND DEVELOPMENT LTD v. HSBC PRIVATE TRUSTEE AND OTHERS
Court

Lands Tribunal
Case number

LDCS7000/2009

On the unchallenged expert evidence the buildings on the subject lots had exceeded their design working life, suffered material structural and safety defects and required unaffordable repairs; the applicant demonstrated it had taken reasonable steps to acquire remaining undivided shares (including a commercial agreement with the trustee party despite need for High Court authorization), the EUVs in the application report were adopted and the auction reserve price of HK$74,800,000 was reasonable — accordingly the statutory conditions for a compulsory sale order under Cap.545 were satisfied and…