31 May 2013
GOOD FAITH PROPERTIES LTD AND OTHERS v. CIBEAN DEVELOPMENT COMPANY LTD
- Citation
- GOOD FAITH PROPERTIES LTD AND OTHERS v. CIBEAN DEVELOPMENT COMPANY LTD<br>
- Court
- Lands Tribunal
- Case number
- LDCS42000/2011
On a purposive construction of s.4(2) of Cap.545 the Tribunal must be satisfied at the hearing that redevelopment is justified and that the majority owner has taken reasonable steps to acquire outstanding shares; 'reasonable steps' includes offers made both pre- and post-application. Accepting the applicants' expert evidence, the Building is justified for redevelopment due to age and dangerous state; the applicants took reasonable steps and made offers within a broadly fair and reasonable range; accordingly an order for compulsory sale is granted and the Tribunal sets the reserve price at HKD…