23 Nov 2021
FANCY MILLION LTD AND OTHERS v. YEAR GLORY LTD AND OTHERS
- Citation
- [2021] HKLdT 76
- Court
- Lands Tribunal
- Case number
- LDCS15000/2018
The Tribunal found that the applicants met the statutory entitlement (80% threshold under the Gazette Notice), proved redevelopment is justified by the age and state of repair of the Building on the evidence of experts and comparative repair/construction cost analysis, and demonstrated they took reasonable steps to purchase the remaining interests; accordingly the Tribunal ordered sale of all undivided shares by public auction, set the reserve price at HKD 705,000,000, appointed the nominated trustees, approved the sale particulars subject to finalization, and made a costs order nisi with spe…