Hong Kong Case Law: Decisions & Judgments | LexChat

Hong Kong Case Law

Schedule 2 paragraph 2 lcsro

  • 6 May 2016

    FIRST KIND LTD v. UNION ESSENCE INVESTMENTS LTD AND OTHERS

    Citation
    FIRST KIND LTD v. UNION ESSENCE INVESTMENTS LTD AND OTHERS
    Court
    Lands Tribunal
    Case number
    LDCS20000/2014

    The Tribunal held it has a discretionary power under s.4(6)(a)(i) to give directions that enable lots which are subjects of different applications to be sold together (by giving parallel consequential directions in each application), but s.4(6)(a)(i) does not empower the Tribunal to alter the statutory reserve price formula in Schedule 2 paragraph 2. Consequently the reserve price must be the aggregate of the individual lots' redevelopment values assessed on an 'on its own' basis; market forces at auction may achieve a higher merged-site price. The six applications should be heard together fo…

  • 6 May 2016

    FIRST KIND LTD AND ANOTHER v. WONG FU CHEUNG AND OTHERS

    Citation
    FIRST KIND LTD AND ANOTHER v. WONG FU CHEUNG AND OTHERS
    Court
    Lands Tribunal
    Case number
    LDCS21000/2014

    The Tribunal held that it has a discretion under s.4(6)(a)(i) to give directions which can enable adjoining lots that are the subjects of separate applications to be sold together in a coordinated auction (parallel directions), but s.4(6) does not permit the Tribunal to alter the statutory reserve-price formula by treating lots from different applications as a single merged lot for the purpose of fixing the reserve price; therefore the reserve price must be set by reference to the lot(s) comprised in each application (aggregate of individual-lot valuations), and the six applications should be…

  • 6 May 2016

    FIRST KIND LTD v. WONG SHEK AND ANOTHER

    Citation
    FIRST KIND LTD v. WONG SHEK AND ANOTHER
    Court
    Lands Tribunal
    Case number
    LDCS15000/2014

    The Tribunal held that s.4(6)(a)(i) empowers it to give consequential or parallel directions to enable lots comprised in different applications to be sold concurrently (synchronised auctions) and to make ancillary directions (e.g. payment of proceeds) but does not permit the Tribunal to amalgamate lots across separate applications so as to alter the statutory basis for setting the reserve price. Consequently Schedule 2 paragraph 2 must be applied with reference to the lot(s) the subject of each order/application; where several lots are ordered in separate applications to be sold together the…