24 Mar 2021
WELL WILL COPORATION LTD v. FORTUNE MAX DEVELOPMENT LTD AND OTHERS
- Citation
- [2021] HKLdT 19
- Court
- Lands Tribunal
- Case number
- LDCS28000/2019
Applicant satisfied statutory ownership threshold (over 80% at date of application and over 90% at trial), expert evidence established the Building is obsolete and in poor repair so redevelopment is justified, applicant took reasonable steps to acquire remaining shares by making offers reflecting pro rata RDV, tribunal determined EUV of the Building at HKD 541,880,000 (as at 11 June 2019) and RDV / reserve price at HKD 774,000,000 (as at 4 January 2021), and an order for sale by public auction was granted with trustees appointed and other ancillary orders.