23 Jan 2013
EVERSOUND INVESTMENTS LTD v. TUNG CHUN HUNG AND OTHERS
- Citation
- EVERSOUND INVESTMENTS LTD v. TUNG CHUN HUNG AND OTHERS<br>
- Court
- Lands Tribunal
- Case number
- LDCS5000/2012
Applicant satisfied statutory ownership threshold as modified by s.3(5) notice (>=80%); credible expert evidence established the Building is dilapidated, structurally degraded and functionally obsolete such that redevelopment is justified under s.4(2)(a); Applicant took reasonable steps to acquire remaining share by written offers based on professional valuations and mediation attempt under s.4(2)(b); apportionment by EUV as reported is fair; RDV-based reserve price of HKD 75,700,000 is appropriate; order for sale and ancillary orders (trustees, completion period) were therefore warranted.