AUGUSTINE S. K. CHUNG
ROOM 1115, HANG LUNG CENTRE, 11th FLOOR, PATERSON STREET,
HONG KONG. TEL: 5-771862-3
how and when the compensation for their loss of investment would be paid to them. The above
words apparently failed to make the non-resident
owners know what to do. We can hardly blame them if we bear in mind their understanding
power and mentality as explained earlier in
this letter.
(iv)
the case,
For one reason or the other, some thought that if they accepted whatever assessment offered by the Authorities concerned before the reversion
date, they would be paid only 50% first and then the other 50% would be paid upon the Authorities concerned successfully evicting or resettling the
tenants. As a matter of fact, that was not even
Nevertheless, that was what they thought. However, with what they thought did not help them at all because they still could not change their investment by that formula without
suffering loss. The reasons are obvious, If
they wanted to purchase other tenanted flats or shops elsewhere even at a price which was equal to the agreed compensation, they would have to pay 20% of the agreed purchase price for the
deposit and to pay the balance on completion within one month if not earlier. In the
circumstances, they would have little difficulties with the payment of a deposit which they could do out of the 50% compensation above-mentioned However, they would have difficulties in paying the balance within one month or earlier because they were not in the position to know when their
tenants would move out of their Sai Lau Kok flats
or shops. In other words, they could not be sure when the other 50% compensation would be paid to
them. If they could not pay the balance in time,
to be Cont'd/P.9