Hong Kong Case Law: Decisions & Judgments | LexChat

Topic

Majority owner threshold

Legal area

Court

9 Dec 2024

SUNNY PALACE LTD AND OTHERS v. CHEUNG LAI LING RITA AND ANOTHER

Citation

[2024] HKLdT 95
Court

Lands Tribunal
Case number

LDCS5000/2023

Applicants satisfied statutory threshold (>90%); valuations by appointed valuer accepted for market value as at 2 Aug 2023 and for redevelopment residual value as at 31 Oct 2024; expert engineering evidence established building is obsolete and in poor repair such that redevelopment is justified; applicants demonstrated reasonable steps to acquire remaining shares including purchase of several respondent interests and substituted service on missing owner; accordingly tribunal granted compulsory sale, appointed trustees and fixed reserve price at HKD 286,000,000.
2 Nov 2021

FAMOUS CONCEPT DEVELOPMENT LTD v. THOUSAND TREASURE INVESTMENT LTD AND OTHERS

Citation

[2021] HKLdT 72
Court

Lands Tribunal
Case number

LDCS30000/2019

Applicant entitled to make the application (owns 32/39 undivided shares, above the 80% threshold under the 2010 Notice); redevelopment of the Lots is justified by reason of the age and state of repair based on uncontroverted expert building and structural reports demonstrating pervasive structural defects and disproportionate repair costs; applicant took reasonable steps to acquire minority shares by making offers informed by reputable valuers which exceeded EUV; RDV assessed by residual method produced a land value leading the Tribunal to set the auction reserve price at HKD 377,000,000; tru…