22 Oct 2020
SINO ACCORD INVESTMENT LTD v. The Personal Representative of the Estate of SHUM KAR FUN (岑玠芬), Deceased AND OTHERS
- Citation
- [2020] HKLdT 44
- Court
- Lands Tribunal
- Case number
- LDCS10000/2017
Tribunal held applicant entitled to make the application because the 2010 Notice reduced the statutory threshold to 80% and applicant owned more than 80%; expert EUV valuations for minority units were fair and reasonable; applicant took reasonable steps to acquire remaining shares including publication where owners were missing; the age/state of repair justified redevelopment; applying a residual valuation with a 15% developer's profit the Tribunal determined RDV/reserve price at HKD 1,306,500,000 and ordered sale by public auction with trustees appointed and specified sale conditions.