12 Sept 2012
FAIRTEX DEVELOPMENT LTD v. TSO PEE HONG AND OTHERS
- Citation
- FAIRTEX DEVELOPMENT LTD v. TSO PEE HONG AND OTHERS
- Court
- Lands Tribunal
- Case number
- LDCS20000/2011
Tribunal held applicant satisfied statutory requirements (ownership thresholds as applicable under the Gazette notice and s.3(2)(b) for each connected pair), redevelopment was justified on grounds of age and dangerous state of repair, the applicant took reasonable steps to acquire missing shares, and therefore an order for sale was granted; the Tribunal treated the filing as two applications (one per pair) consolidated for hearing and ordered one combined public auction with reserve price set at the assessed redevelopment value of HKD 239,000,000 and specified apportionment rules for proceeds.