20 Jan 2014
HAPPY DRAGON RESTAURANT LTD v. DIRECTOR OF LANDS
- Citation
- HAPPY DRAGON RESTAURANT LTD v. DIRECTOR OF LANDS
- Court
- Lands Tribunal
- Case number
- LDLR17/2006
The Tribunal has a wide discretion under s17(3A) and s17(3B) provides only a minimum floor; the overriding objective is to compensate fairly for being kept out of the money (principle of equivalence); on the facts respondent failed to displace the presumption that Prime +1% (HSBC prime +1%) fairly compensates the applicant for the 6.5 year deprivation; accordingly interest awarded at HSBC prime +1% from date of resumption until judgment and judgment rate thereafter; costs to applicant.