29 Jul 1982
KINGEARN CO LTD v. LEE WOO-BUN AND OTHERS
- Citation
- KINGEARN CO LTD v. LEE WOO-BUN AND OTHERS
- Court
- District Court
- Case number
- DCCJ7175/1981
The plaintiff demonstrated a bona fide intention and, after increasing paid-up capital to $10,000,000, adequate financial capacity to carry out the rebuilding; accordingly possession was granted under Section 53(2)(c) subject to conditions. Compensation to long-term tenants was fixed at four times the 1976 rateable value as reasonable in all the circumstances. A stay of execution to 28 January 1983 and specified payment and redevelopment conditions were imposed; no order as to costs under Section 68B.