26 Oct 2010
KONEW FINANCE LTD v. MAK CHI WAI, TOMMY
- Citation
- KONEW FINANCE LTD v. MAK CHI WAI, TOMMY
- Court
- District Court
- Case number
- DCMP673/2001
The court held that a sale to an eligible nominated purchaser in the Home Ownership Scheme secondary market is legally distinct from a public auction or open-market private treaty; read against s.17 and Schedule 1B of the Housing Ordinance, the sale at HK$500,000 in December 2001 was not below the applicable market value and therefore did not breach paragraph 2 of Master Chow's order, so the appeal succeeds and the assignment is approved.