22 Aug 1996
LAI Yuet Ngao t/a Hoi Yeung Commercial v. Director of Lands
- Citation
- LAI Yuet Ngao t/a Hoi Yeung Commercial v. Director of Lands
- Court
- Lands Tribunal
- Case number
- LDLR2/1995
Tribunal held applicant entitled to compensation under s.10(2)(d); on the evidence applicant lacked funds to relocate so award is on a total extinguishment basis; in absence of reliable trading records tribunal adopted a wages-and-salary cost approach cross-checked with rental approach to fix annual profit at $220,000 and applied a multiplier of 2 to determine goodwill of $440,000; took auction proceeds $3,000 as reliable indicator for perishable stock and applied a factor of 10 to reach market value $30,000 (loss on forced sale $27,000); accepted expert valuation with depreciation for fixtur…