3 Apr 2013
DAY BRIGHT DEVELOPMENT LTD AND OTHERS v. MAN SHIU INVESTMENT CO LTD AND OTHERS
- Citation
- DAY BRIGHT DEVELOPMENT LTD AND OTHERS v. MAN SHIU INVESTMENT CO LTD AND OTHERS
- Court
- Lands Tribunal
- Case number
- LDCS15000/2012
The Tribunal accepted the applicants met the lowered ownership threshold (80%) under the Specification Notice, accepted expert valuation and building/structural evidence showing the Building is aged and beyond reasonable economic repair, found applicants took reasonable steps to acquire outstanding shares (including provisional agreements and offers to estates), and therefore the statutory requirements under the Ordinance were satisfied; consequently an order for compulsory sale was granted with the reserve price fixed at HKD156,000,000 and trustees appointed.