7 Jun 2013
SMART VALUE INVESTMENTS LTD v. PROTIME INVESTMENT LITD AND OTHERS
- Citation
- SMART VALUE INVESTMENTS LTD v. PROTIME INVESTMENT LITD AND OTHERS<br>
- Court
- Lands Tribunal
- Case number
- LDCS42000/2012
Applicant satisfied statutory preconditions: owned over 90% of undivided shares; expert evidence established the building has passed its design life and is in a poor state of repair making redevelopment justified; applicant took reasonable steps to acquire remaining shares and properly effected substituted service by publication; EUV and RDV valuations were credible and a reserve price of HK$145,859,000 was appropriate; accordingly Tribunal granted order for compulsory sale by auction.