24 Feb 2023
LUCK MOST LTD AND OTHERS v. GOOD MOVEMENT LTD
- Citation
- [2023] HKLdT 14
- Court
- Lands Tribunal
- Case number
- LDCS11000/2020
The Tribunal interpreted Schedule 2 paragraph 2 as requiring the reserve price to be fixed by reference to the redevelopment potential of the subject lot(s) on their own, thereby excluding evidence and claims relying on merged site or special interest (Clay) factors for the purpose of fixing the reserve price; paragraph 1(b) (and annexed plan and schedule) disclosed no arguable defence on that point and was struck out; the provision was not unconstitutional in that scheme and the auction process protects minority owners by allowing market realization of any enhanced value.