15 Oct 2021
ASIA BRIGHT ENTERPRISES LTD AND ANOTHER v. THE PERSONAL REPRESENTATIVE OF THE ESTATE OF LAW KING YIN, DECEASED, NG CHI MING SIMON, NG WAN YEE SAMMI, NG YU MING SIMON and NG PATRICK KON MING AND OTHERS
- Citation
- [2021] HKLdT 68
- Court
- Lands Tribunal
- Case number
- LDCS11000/2019
The tribunal held the applicants satisfied the statutory ownership threshold (more than 80% under the Notice), the Building is justified for redevelopment due to age and poor state of repair, and the applicants took reasonable steps to acquire the remaining shares; the EUV of the Building was determined at HKD 706,590,000 and the RDV/reserve price for auction was set at HKD 962,000,000 (valuation reflecting inclusion of the Green Area subject to Building Authority modification and appropriate risk adjustments); accordingly an order for sale was granted and trustees appointed.