Case Details

The last-minute withdrawal of the Link Real Estate Investment Trust (Reit) IPO in late 2004 was seen as a costly embarrassment for the government at a time when Hong Kong was aiming to rival Singapore as an Asian market for Reits. The planned privatisation of 79,000 car parking spaces and 151 shopping centres spun off from the government-owned Hong Kong Housing Authority would, it was argued, result in the Housing Authority's loss of control over amenities and services, constituting a breach of the government's statutory duty. In mid-May 2005, Ms. Lo, a public housing tenant, successfully applied to have her case heard before the Court of Final Appeal. The chairman of the Housing Authority, Michael Suen expressed hope that the Link Reit could be re-launched before the end of the year, but this would depend on the progress of lawsuits. All eyes were trained on the government's handling of the challenge and its effort to re-launch the IPO. Would a renewed listing proceed without further controversy?

2004年年末，领汇房地产投资信托基金的首次公开募股在最后一分钟被取消对于当时正与新加坡争夺亚洲的房地产投资信托基金市场的香港政府而言可谓是代价惨痛。 对香港房屋委员会（房委会）下属的79,000个停车场和151个购物中心实施私有化的计划被指将致使房委会对各种公益设施和服务失去控制，由此，违背了政府应承担的法定义务。 2005年5月中旬，香港终审法院同意受理公屋租户卢女士的诉讼请求。 房委会主席孙明扬表示希望领汇房地产基金可以在2005年年底之前完成上市，但具体情况仍将取决于诉讼的进展情况。 由此，所有的目光都汇集到了政府身上，关注着政府应对该挑战的种种做法，及为领汇基金能最终实现上市所作的种种努力。领汇基金在新一轮上市中是否能避免新的法律纠纷的产生？