Hong Kong Case Law: Decisions & Judgments | LexChat

Hong Kong Case Law

Business compensation
  • 23 Jan 1996

    WONG Sau Hing and Others (t/a Shing Kee Metal Dealer) v. Director of Lands

    Citation
    WONG Sau Hing and Others (t/a Shing Kee Metal Dealer) v. Director of Lands
    Court
    Lands Tribunal
    Case number
    LDLR20/1994

    Tribunal awarded compensation on basis that trading stock, machinery and equipment must be valued at replacement value at time of forced sale; accepted auction proceeds of $2.4m as reflecting a forced bulk sale and applied a multiplier of 3.5 (informed by Callwin precedent and circumstances) to derive a market-replacement value of $8.4m, less auction proceeds yields $6.0m for forced-sale losses; goodwill assessed at $800,000 annual potential x multiplier 3 = $2.4m; profit rent and fixtures assessed at $118,000 and $200,000 respectively; miscellaneous proven auction and transport costs allowed…