11 Sept 2020
PERFECT HORIZON LTD v. CO SAM AND OTHERS
- Citation
- [2020] HKLdT 37
- Court
- Lands Tribunal
- Case number
- LDCS23000/2018
The Tribunal found applicant met the statutory ownership threshold (80% under the 2010 Notice), redevelopment of the Lot was justified on grounds of age and state of repair based on expert evidence, the applicant had taken reasonable steps to acquire remaining shares, and the RDV was properly determined by residual valuation resulting in a reserve price of HKD 223,372,680; accordingly a compulsory sale order for public auction was granted and trustees appointed.