6 Dec 2011
TOP SAIL INTERNATIONAL LTD v. WONG LAI WEI
- Citation
- TOP SAIL INTERNATIONAL LTD v. WONG LAI WEI
- Court
- Lands Tribunal
- Case number
- LDCS19000/2010
The Tribunal found the building was in such poor and dangerous condition that redevelopment was justified, the Applicant had taken reasonable steps to acquire the remaining share, and the RDV assessed by the Applicant's valuer (Mr A. Chan) at HK$48.8M was fair and reasonable while the Respondent's higher valuation was speculative because it depended on unlikely planning/lease approvals; accordingly an order for compulsory sale was granted and the reserve price was fixed at HK$48,800,000.