3 Dec 2010
WEALRISE INVESTMENTS LTD v. LEUNG CHI KEUNG
- Citation
- WEALRISE INVESTMENTS LTD v. LEUNG CHI KEUNG
- Court
- Lands Tribunal
- Case number
- LDCS8000/2009
On the accepted expert evidence the existing buildings were structurally dangerous and redevelopment was justified; the Applicant took reasonable steps to acquire all undivided shares by making offers which, when assessed against the expert valuation of redevelopment value $68,100,000 and the statutory apportionment (Respondent's pro rata 7.83% = $5,332,230), were fair and reasonable; accordingly an order for compulsory sale was granted and the auction reserve price set at $68,100,000; costs were awarded to the Applicant.