28 May 2013
EVERSOUND INVESTMENTS LTD v. TSE YUEN CHI AND OTHERS
- Citation
- EVERSOUND INVESTMENTS LTD v. TSE YUEN CHI AND OTHERS
- Court
- Lands Tribunal
- Case number
- LDCS11000/2012
The Tribunal found on admitted and expert evidence that the Applicant met the lowered statutory ownership threshold, that the Building is 53 years old and in advanced dilapidated condition with structural defects and UBWs amounting to a justified need for redevelopment, and that the Applicant took reasonable steps to acquire the minority shares (offers based on professional valuations and mediation attempt); accordingly an order for compulsory sale by public auction was granted, trustees were appointed, the reserve price was fixed at the redevelopment value of HKD 67,400,000 and no order as t…