27 Feb 2012
DYNAMIC HERO LTD v. LEUNG KAM SUI, APPOINTED BY THE TRIBUNAL AS REPRESENTATIVE FOR THE ESTATE OF LEUNG YIU WAH, DECEASED AND ANOTHER
- Citation
- DYNAMIC HERO LTD v. LEUNG KAM SUI, APPOINTED BY THE TRIBUNAL AS REPRESENTATIVE FOR THE<br>ESTATE OF LEUNG YIU WAH, DECEASED AND ANOTHER
- Court
- Lands Tribunal
- Case number
- LDCS17000/2011
The Tribunal found the applicant met the statutory 90% ownership threshold, accepted uncontested expert evidence that the Building is in poor and dangerous condition and is 45 years old, concluded redevelopment is justified on grounds of state of repair and age, found the applicant took reasonable steps to acquire remaining shares, accepted the applicant's revised RDV of HKD 72,700,000 and fixed the auction reserve price at HKD 72,700,000, ordered sale by public auction with proceeds apportioned by EUV and made a costs order nisi of no order as to costs.