27 Aug 2010
PENNY\'S BAY INVESTMENT CO LTD v. DIRECTOR OF LANDS
- Citation
- PENNY\'S BAY INVESTMENT CO LTD v. DIRECTOR OF LANDS
- Court
- Court of Final Appeal
- Case number
- FACV8/2009
The Court held that compensation is calculated by reference to open market values on the date of the authorisation treating the reclamation as having occurred; subsequent events are irrelevant to that valuation and any expectations of future enhancements must be reflected in both the before and after valuations; Article 105 point was insignificant; therefore PBIL succeeded on the substantive legal issues and is entitled to costs.