4 Sept 2012
LUCKY SKY ASIA PACIFIC LTD v. LUO SHU FAN
- Citation
- LUCKY SKY ASIA PACIFIC LTD v. LUO SHU FAN
- Court
- Court of First Instance
- Case number
- HCA842/2010
Court accepted plaintiff's expert valuation methodology but, given the urgent/force sale constraints and arm's-length resale, treated the actual resale price of HK$12,850,000 as the market price in the circumstances. Defendant's experts' reports were given no weight due to non-attendance and unreliable comparables/adjustments. Damages calculated as contract price HK$19,000,000 less resale market price HK$12,850,000 = HK$6,150,000, plus additional resale expenses (agent commission HK$128,500 and legal costs HK$9,000) less credit for defendant's purchase monies HK$3,800,000, netting HK$2,487,50…