25 Mar 2020
CHINA VISION ENGINEERING LTD AND OTHERS v. BOLD TEAM INVESTMENTS LTD AND OTHERS
- Citation
- [2020] HKLdT 11
- Court
- Lands Tribunal
- Case number
- LDCS5000/2018
Tribunal accepted the jointly agreed EUVs ($519,450,000 total) as at 25 October 2017, found the Building is obsolete and in poor repair such that redevelopment is justified under s4(2)(a), concluded applicants took reasonable steps to acquire all undivided shares under s4(2)(b) having made multiple fair offers, adopted 30 months construction period and 15% developer's profit for residual valuation, fixed the RDV/reserve price at HKD 804,000,000 as at 15 November 2019, granted an order for sale by public auction, appointed trustees and made a costs order nisi that the applicants pay the respon…