Hong Kong Case Law: Decisions & Judgments

Topic

Undivided shares threshold

Legal area

Court

25 Apr 2019

CHINA STEP CORPORATION LIMITED AND OTHERS v. LAM KING CHIN AND OTHERS

Citation

[2019] HKLdT 30
Court

Lands Tribunal
Case number

LDCS4000/2018

Applicants met the applicable statutory ownership threshold (80%), produced credible expert evidence that the 55-year-old building was at the end of its design life and in poor condition such that redevelopment was justified, demonstrated they took reasonable steps to acquire remaining shares with offers within a fair band based on professional valuation, and produced an RDV valuation the tribunal accepted; accordingly an order for sale by public auction was granted with reserve price set at the assessed RDV of HKD 451,000,000 and trustees appointed.
14 Mar 2019

FIRST MATE DEVELOPMENT LTD v. CHOR KWONG WAI AND OTHERS

Citation

[2019] HKLdT 20
Court

Lands Tribunal
Case number

LDCS9000/2016

Applicant met the lowered threshold (80%), expert evidence established redevelopment justified by age and poor state/repair, applicant took reasonable steps to acquire remaining shares, tribunal accepted the expert EUV and RDV valuations and therefore granted an order for sale by public auction of the merged site with reserve price set at RDV $626,000,000, directed apportionment of net proceeds by the EUV of all units, appointed trustees and ordered specified ancillary directions including holding of proceeds attributable to R4 pending HCMP 1377/2017.
26 Jul 2018

FAIRBO INVESTMENT LTD v. LEUNG CHIT, THE PERSON APPOINTED BY ORDER DATED 22ND NOVEMBER 2017 TO REPRESENT THE ESTATE OF LEUNG TAI CHEUNG ALSO KNOWN AS LIANG TAI CHEUNG AND LIANG CHUN, DECEASED AND ANOTHER

Citation

[2018] HKLdT 57
Court

Lands Tribunal
Case number

LDCS23000/2014

The tribunal held the applicant satisfied the statutory undivided share threshold, redevelopment was justified by age and poor condition of the buildings, the applicant took reasonable steps to acquire remaining shares, the EUV assessments in the applicant's valuation were accepted as fair and reasonable, and the RDV was fixed at HKD 418,000,000 (using a 10% profit margin) leading to an order for sale of the lots as a composite site with proceeds apportioned by EUV.
24 Apr 2018

WOOD ONE KEEPRICH LTD v. SKY MAGIC LTD AND OTHERS

Citation

[2018] HKLdT 29
Court

Lands Tribunal
Case number

LDCS6000/2016

The tribunal found the applicant met the statutory undivided shares threshold (80% applicable), redevelopment was justified by age and poor state of repair, the applicant took reasonable steps to acquire remaining shares, the parties agreed EUV figures were accepted, and the RDV as assessed at 15 December 2017 of HKD 485,000,000 is adopted as the reserve price; accordingly an order for sale by public auction was granted with trustees appointed and costs reserved to the applicant on a nisi basis.
13 Sept 2017

CENTRAL PROFIT INVESTMENTS LTD AND OTHERS v. SHUGA INVESTMENTS LTD AND OTHERS

Citation

CENTRAL PROFIT INVESTMENTS LTD AND OTHERS v. SHUGA INVESTMENTS LTD AND OTHERS
Court

Lands Tribunal
Case number

LDCS1000/2016

Applicants held more than the applicable 80% threshold; the unchallenged EUV and RDV valuations prepared by Mr Chan are accepted; expert evidence proved the building is aged and in poor repair and redevelopment is justified; applicants made reasonable and fair offers to acquire remaining shares; accordingly the Tribunal orders a compulsory sale for redevelopment, appoints trustees, sets the reserve price at RDV $1,401,000,000 and makes a costs order nisi in favour of respondents.
31 Aug 2017

SUN CRYSTAL LTD AND OTHERS v. CHENG SIU KAU AND OTHERS

Citation

SUN CRYSTAL LTD AND OTHERS v. CHENG SIU KAU AND OTHERS
Court

Lands Tribunal
Case number

LDCS6000/2015

The Tribunal held that the applicants satisfied the statutory threshold (applicants owned more than 80% of undivided shares), redevelopment was justified on grounds of age and state of repair based on uncontradicted expert engineering and building surveys, the applicants took reasonable steps to acquire remaining shares with offers within the acceptable range, the EUV of the building as at 19 June 2015 was determined at HK$440,780,000, and the appropriate RDV/reserve price for auction is HK$1,049,250,000 calculated on the scenario excluding the Caine Road Area but including the Proposed Lane…

Hong Kong Case Law

CHINA STEP CORPORATION LIMITED AND OTHERS v. LAM KING CHIN AND OTHERS

FIRST MATE DEVELOPMENT LTD v. CHOR KWONG WAI AND OTHERS

FAIRBO INVESTMENT LTD v. LEUNG CHIT, THE PERSON APPOINTED BY ORDER DATED 22ND NOVEMBER 2017 TO REPRESENT THE ESTATE OF LEUNG TAI CHEUNG ALSO KNOWN AS LIANG TAI CHEUNG AND LIANG CHUN, DECEASED AND ANOTHER

WOOD ONE KEEPRICH LTD v. SKY MAGIC LTD AND OTHERS

CENTRAL PROFIT INVESTMENTS LTD AND OTHERS v. SHUGA INVESTMENTS LTD AND OTHERS

SUN CRYSTAL LTD AND OTHERS v. CHENG SIU KAU AND OTHERS