Launching Arbitration For Land Premium Disputes

On 24 July 2014, we issued a legal update on the Hong Kong Government's proposed two-year Pilot Scheme for arbitration on land premium (the "Pilot Scheme"). The Pilot Scheme was intended to streamline procedures for resolving land premium disputes with property developers by allowing a third party arbitral tribunal to rule on the appropriate amount of premium payable pursuant to applications for lease modification and land exchange.

The Pilot Scheme was officially launched by the Government pursuant to an Information Note dated 27 October 2014 (the "Information Note") and cases that meet the criteria for referral can now adopt the expedited procedure to help break the deadlock between the parties.