31 Jan 2022
CITY FAIR DEVELOPMENT LTD AND OTHERS v. MAK KAM FOON AND OTHERS
- Citation
- [2022] HKLdT 9
- Court
- Lands Tribunal
- Case number
- LDCS20000/2018
Applicants satisfied statutory ownership threshold; expert condition and structural reports establish the building is obsolete and in poor repair such that redevelopment is justified; applicants took reasonable steps to acquire outstanding shares (R1 and R9 settled; R11 missing notwithstanding substituted service); tribunal accepts expert valuations and adopts EUV $434,090,000 and RDV/reserve price $925,000,000; order for sale granted with trustees appointed and ancillary directions and costs order nisi made.