10 Mar 2021
TERYHILL LTD AND OTHERS v. NG LOK KAAN AND ANOTHER
- Citation
- [2021] HKLdT 15
- Court
- Lands Tribunal
- Case number
- LDCS10000/2020
The Tribunal granted the compulsory sale because the applicants met the statutory 90% ownership threshold, the expert valuation of EUVs was fair and reasonable including the missing owners' unit, expert engineering and building surveyor reports established that the Building had reached its design working life and was in a state of disrepair and functional obsolescence justifying redevelopment, and the applicants took reasonable steps to acquire remaining shares; accordingly the Tribunal ordered sale by public auction, fixed the reserve price at HK$606,000,000, and appointed trustees with spec…