29 Aug 2013
EVERSOUND INVESTMENTS LTD v. TONGYORKTSE AND OTHERS
- Citation
- EVERSOUND INVESTMENTS LTD v. TONGYORKTSE AND OTHERS<br>
- Court
- Lands Tribunal
- Case number
- LDCS3000/2012
Applicant satisfied the lowered statutory ownership threshold under the Gazette notice; the Tribunal accepts expert EUV valuations based on permitted domestic use (scenario 1); independent structural and building surveys establish redevelopment is justified by age and dilapidation and repair costs are disproportionate; applicant took reasonable steps to acquire remaining share(s) by making offers above expert valuation; accordingly an order for compulsory sale by public auction is warranted with reserve price fixed at HK$63.20 million and trustees appointed.