17 Oct 2016
GAINFIELD INVESTMENT LTD AND OTHERS v. LEGEND TIME LTD AND OTHERS
- Citation
- GAINFIELD INVESTMENT LTD AND OTHERS v. LEGEND TIME LTD AND OTHERS
- Court
- Lands Tribunal
- Case number
- LDCS16000/2014
On the evidence the Tribunal was satisfied redevelopment of Pak Cheung House was justified by age and state of repair; applicants met the statutory threshold and had taken reasonable steps to acquire minority shares; the Tribunal adopted the valuation findings (EUV total for the building and apportioned EUVs) and residual valuation inputs to determine RDV, fixed the reserve price for the auction at HK$944,000,000, ordered sale by public auction under the Ordinance, and made ancillary appointments and directions (trustees, solicitors, sale particulars, completion timetable).