12 Dec 2012
VINCENT INVESTMENTS LTD v. BRIGHT WAY REAL ESTATE DEVELOPMENT CO LTD
- Citation
- VINCENT INVESTMENTS LTD v. BRIGHT WAY REAL ESTATE DEVELOPMENT CO LTD
- Court
- Lands Tribunal
- Case number
- LDCS12000/2011
The Tribunal accepted the applicant's expert valuation evidence (Charles Chan) for EUVs and RDV, concluded redevelopment of the Lots is justified due to the age and defective state of the building based on structural and building surveyor reports, found that the applicant took reasonable steps to acquire the minority shares (offers documented and mediation undertaken), set the RDV/reserve price at HK$333,000,000, appointed the proposed sale trustees and approved the sale particulars and remuneration, and therefore ordered compulsory sale for redevelopment.