19 Jul 2022
PRO SHINE INTERNATIONAL INC LTD AND ANOTHER v. KWOK HON PON AND OTHERS
- Citation
- [2022] HKLdT 29
- Court
- Lands Tribunal
- Case number
- LDCS26000/2020
The Tribunal held that the applicants met the statutory ownership threshold (80% because of the 2010 Notice), that redevelopment was justified due to the building's advanced age, serious structural deterioration and functional obsolescence as evidenced by expert reports, and that the applicants had taken reasonable steps to acquire remaining interests; accordingly an order for sale by public auction was made with the reserve price set at HKD 210000000 and trustees appointed to oversee sale and distribution.