5 Feb 2016
PACIFIC CHINA DEVELOPMENT LTD AND ANOTHER v. The personal representative of CHU TAK HING, deceased, Administratrix of the estate of YU KEI MING, deceased AND ANOTHER
- Citation
- PACIFIC CHINA DEVELOPMENT LTD AND ANOTHER v. The personal representative of CHU TAK HING, deceased, Administratrix of the estate of YU KEI MING, deceased AND ANOTHER
- Court
- Lands Tribunal
- Case number
- LDCS10000/2014
The Tribunal concluded that the applicants met the statutory ownership threshold as lowered to 80% by the Gazette Notice, the EUV assessments (including the minority unit) were fair and reasonable, the buildings are aged and in a state of disrepair rendering redevelopment justified, and the applicants took reasonable steps to acquire the outstanding shares; accordingly an order for sale by public auction with a reserve price of HK$197,000,000 and appointment of specified trustees was made.