12 Apr 2010
THE HONG KONG ELECTRIC CO LTD v. COMMISSIONER OF RATING AND VALUATION
- Citation
- THE HONG KONG ELECTRIC CO LTD v. COMMISSIONER OF RATING AND VALUATION
- Court
- Lands Tribunal
- Case number
- LDGA224/2004
The Tribunal ruled that (1) the proportion of assets attributable to HT must be determined by reference to the 31 March 2004 accounts as the best proxy for the state of assets at 1 April 2004 under the Rating Ordinance; (2) HEC's causes of action were constituted when lodged and were not dependent on the Tribunal's later determination, and HEC was entitled to interest on overpaid rates and Government rent for the full pre-judgment and post-judgment periods (subject to interim refund), with the pre-judgment interest assessed at HEC's actual borrowing rates for 2004-2009 as evidenced and judgme…