Hong Kong Case Law: Decisions & Judgments

Topic

Redevelopment value (rdv) / reserve price

Legal area

Court

13 Sept 2022

PRO SHINE INTERNATIONAL INC. LTD AND OTHERS v. YEUNG PIK KEUNG AND OTHERS

Citation

[2022] HKLdT 46
Court

Lands Tribunal
Case number

LDCS25000/2020

Applicants owned more than the applicable 80% threshold at the relevant date; independent expert structural and condition reports established the Building is aged and in poor structural condition such that redevelopment is justified under section 4(2)(a); the offers made by the applicants reflected a proportionate share of the RDV and fell within the band of fair and reasonable compensation so the applicants satisfied section 4(2)(b); the Tribunal determined EUV (total HKD 373,020,000) and, by residual valuation adopting the adopted hypothetical development scheme and valuation assumptions, f…
14 Dec 2021

ONBRAVE LTD v. MALKANI, SUNITA BHAGWAN AND ANOTHER

Citation

[2021] HKLdT 80
Court

Lands Tribunal
Case number

LDCS27000/2020

The tribunal found the applicant met the statutory ownership threshold, accepted the expert structural and condition evidence that the building is obsolete and in poor repair so redevelopment is justified, accepted that the applicant had taken reasonable steps to acquire outstanding shares (offers fell within a fair and reasonable band), adopted agreed valuation adjustments and expert determinations and therefore granted an order for sale with EUV of the building at HKD 643,830,000 and RDV/reserve price set at HKD 1,009,000,000.
13 Sept 2017

CENTRAL PROFIT INVESTMENTS LTD AND OTHERS v. SHUGA INVESTMENTS LTD AND OTHERS

Citation

CENTRAL PROFIT INVESTMENTS LTD AND OTHERS v. SHUGA INVESTMENTS LTD AND OTHERS
Court

Lands Tribunal
Case number

LDCS1000/2016

Applicants held more than the applicable 80% threshold; the unchallenged EUV and RDV valuations prepared by Mr Chan are accepted; expert evidence proved the building is aged and in poor repair and redevelopment is justified; applicants made reasonable and fair offers to acquire remaining shares; accordingly the Tribunal orders a compulsory sale for redevelopment, appoints trustees, sets the reserve price at RDV $1,401,000,000 and makes a costs order nisi in favour of respondents.
11 Mar 2016

HIGH DYNAMIC HOLDINGS LTD v. TSE SIU BONG

Citation

HIGH DYNAMIC HOLDINGS LTD v. TSE SIU BONG
Court

Lands Tribunal
Case number

LDCS25000/2014

Applicant satisfied statutory ownership threshold (93.75%); expert EUV and RDV valuations by applicant's valuers were accepted as fair and reasonable in absence of challenge; expert evidence established the Building is aged and in poor repair making redevelopment justified; offers made to acquire minority shares were within a fair and reasonable range; accordingly tribunal ordered sale by public auction for redevelopment, appointed trustees, fixed reserve price at HKD 128,103,000 and granted related ancillary relief.

Hong Kong Case Law

PRO SHINE INTERNATIONAL INC. LTD AND OTHERS v. YEUNG PIK KEUNG AND OTHERS

ONBRAVE LTD v. MALKANI, SUNITA BHAGWAN AND ANOTHER

CENTRAL PROFIT INVESTMENTS LTD AND OTHERS v. SHUGA INVESTMENTS LTD AND OTHERS

HIGH DYNAMIC HOLDINGS LTD v. TSE SIU BONG