18 Jun 2014
MANY GAIN INVESTMENT LTD v. ALL LUCKY DEVELOPMENT LTD
- Citation
- MANY GAIN INVESTMENT LTD v. ALL LUCKY DEVELOPMENT LTD
- Court
- Lands Tribunal
- Case number
- LDCS28000/2012
The Tribunal found the applicant met the statutory ownership threshold by operation of the S.3(5) Notice lowering the threshold to 80% and, on the evidence of the applicant's expert valuers and building experts, accepted the EUV and RDV assessments, concluded redevelopment was justified by age and poor condition, that reasonable steps had been taken to acquire remaining shares, fixed the reserve price at HK$135,000,000, and ordered compulsory sale with appointment of nominated trustees and approval of sale particulars.