6 Sept 2013
DAY BRIGHT DEVELOPMENT LTD AND OTHERS v.THE PERSONAL REPRESENTATIVES OF WONGBING (DECEASED）AND OTHERS
- Citation
- DAY BRIGHT DEVELOPMENT LTD AND OTHERS v.THE PERSONAL REPRESENTATIVES OF WONGBING (DECEASED）AND OTHERS<br>
- Court
- Lands Tribunal
- Case number
- LDCS16000/2012
Applicants met the statutory ownership threshold (applicable reduced threshold 80%), credible expert evidence established the Building is aged and in a state beyond reasonable economic repair so redevelopment is justified, the EUV and RDV valuations by Savills were accepted as fair and reasonable and the applicants had taken reasonable steps to acquire outstanding shares; therefore an order for compulsory sale by public auction with reserve price HK$163,000,000 and appointment of the proposed trustees was justified.