18 Sept 2007
SO KEE TRANSPORTATION CO LTD v. THE SECRETARY FOR THE ENVIRONMENT, TRANSPORT AND WORKS
- Citation
- SO KEE TRANSPORTATION CO LTD v. THE SECRETARY FOR THE ENVIRONMENT, TRANSPORT AND WORKS
- Court
- Lands Tribunal
- Case number
- LDRW36/2003
Head Lease must be treated as binding for its fixed term and not as a periodic tenancy so s.12(c) of the Lands Resumption Ordinance applied; therefore goodwill must be assessed taking into account that the tenancy would have expired 31 December 2003 (approximately ten months' remaining tenure). The Tribunal preferred the Applicant's evidence on capacity/layout and adopted a simple average adjusted profit method to calculate goodwill, awarded loss of goodwill pro rata (HKD 1,021,884), accepted forced sale loss (HKD 5,262,165) and severance payments (HKD 2,258,883), and ordered total compensati…