29 Feb 2016
ORIENTAL GENERATION LTD AND OTHERS v. LUK YUNG AND OTHERS
- Citation
- ORIENTAL GENERATION LTD AND OTHERS v. LUK YUNG AND OTHERS
- Court
- Lands Tribunal
- Case number
- LDCS4000/2013
The Tribunal held applicants satisfied statutory ownership threshold and had taken reasonable steps; accepted Savills' direct-comparison EUV including specific CPS adjustments and accepted agreed RDV of HK$2,293,000,000 reached by valuation experts; rejected inclusion of speculative hope value because the legal chance of removing the lease height restriction at nil premium was not shown to be a reasonable (>50%) prospect; ordered compulsory sale by public auction with reserve price HK$2,293,000,000, appointed trustees and solicitors and made costs order nisi.