15 Nov 2011
TOP SAIL INTERNATIONAL LTD v. CHENG KAI MING
- Citation
- TOP SAIL INTERNATIONAL LTD v. CHENG KAI MING
- Court
- Lands Tribunal
- Case number
- LDCS18000/2010
The Tribunal found Applicant met the ownership threshold under s.3(2)(b) with an average share above 90%, redevelopment was justified on the grounds of both the dangerous state of repair and the age/obsolete design of the buildings, Applicant had taken reasonable steps to purchase the remaining share, and the Applicant's expert RDV as revised to $51,420,000 was fair and reasonable; accordingly an order for sale by public auction was granted with that reserve price and ancillary directions including appointment of trustees and a costs nisi of no order as to costs.