15 Oct 2014
PENNY’S BAY INVESTMENT CO LTD v. DIRECTOR OF LANDS
- Citation
- PENNY’S BAY INVESTMENT CO LTD v. DIRECTOR OF LANDS
- Court
- Lands Tribunal
- Case number
- LDMR1/2005
Applying the CFA test, the Tribunal determined Before market value HK$696,492,500 and After market value HK$685,540,000 and awarded compensation equal to the difference, HK$10,952,500, applying public knowledge at valuation date, rejecting assumption of voluntary surrender of marine rights and not assuming physical completion of reclamation or roadworks beyond the allowed statutory assumption.