28 Jun 2024
LAI TAI MIU, ROVANA v. EVEREST TIMOTHY WODEHOUSE
- Citation
- [2024] HKCFI 1432
- Court
- Court of First Instance
- Case number
- HCMP2224/2019
The court varied the prior orders because the agreed mechanism had become unworkable: market changes, absence of any time limit, and the agent's partisan conduct made it unlikely the Property would be sold at the original reserve; the defendant's reliance on the earlier agreed reserve and Kong Colin was distinguishable; accordingly the court substituted a reasonable, time‑limited price adjustment mechanism (reserve HK$53,000,000 with monthly 3% reductions starting after 31 July 2024) and made consequential directions and costs orders.