9 Sept 2011
PACIFIC BUSINESS LTD v. THE PERSONAL REPRESENTATIVES OF BUTT MUT (DECEASED) AND ANOTHER
- Citation
- PACIFIC BUSINESS LTD v. THE PERSONAL REPRESENTATIVES OF BUTT MUT (DECEASED) AND ANOTHER
- Court
- Lands Tribunal
- Case number
- LDCS6000/2010
The Tribunal concluded that the applicant satisfied the statutory conditions of Cap.545: it held more than the required share (95%), produced compelling expert evidence that the Buildings were in a state justifying redevelopment, took reasonable steps to acquire remaining shares and to notify potential claimants, and provided fair valuations; therefore an order for compulsory sale by auction under s.4(1)(b) is to be granted with the reserve price fixed at HK$100,000,000.