6 Oct 2017
ABLE LUCK DEVELOPMENT LTD AND OTHERS v. PUBLIC GLOBAL INVESTMETS LTD AND OTHERS
- Citation
- ABLE LUCK DEVELOPMENT LTD AND OTHERS v. PUBLIC GLOBAL INVESTMETS LTD AND OTHERS
- Court
- Lands Tribunal
- Case number
- LDCS7000/2014
The Tribunal was satisfied on evidence (structural and condition surveys and valuations) that redevelopment was justified due to the building's age, obsolescence and poor state of repair and that the applicants had taken reasonable steps to purchase minority shares on terms that were fair and reasonable; accordingly the Tribunal ordered compulsory sale and fixed the reserve price at HKD 1,621,592,000 based on the RDV determined.