---
title: "CK Asset's Pan Su-tong wins lawsuit over non-performance in transferring the land at Ho Man Tin Station, receiving compensation of over 1.5 billion yuan"
description: "Cheung Kong Holdings won the lawsuit, and Pan Sutong and Gao Liang Investment are required to pay over 1.5 billion yuan for breach of contract. The case involves the right of first refusal for the MTR"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/269675977.md"
published_at: "2025-12-15T06:30:12.000Z"
---

# CK Asset's Pan Su-tong wins lawsuit over non-performance in transferring the land at Ho Man Tin Station, receiving compensation of over 1.5 billion yuan

> Cheung Kong Holdings won the lawsuit, and Pan Sutong and Gao Liang Investment are required to pay over 1.5 billion yuan for breach of contract. The case involves the right of first refusal for the MTR Ho Man Tin Station project. The judge ruled in favor of Cheung Kong, stating that the plaintiff's remarks were merely negotiation tactics. Gao Liang is required to pay compensation and interest

The former chairman of GaoYin Group, Pan Su Tong, and his GaoLin Investment, were sued in 2021 by a company under Cheung Kong Holdings (01113.HK), claiming that they resold the privately held MTR Ho Man Tin Station Phase 1 project to Eagle Group. According to the agreement, Cheung Kong had the right of first refusal for the project, and Pan Su Tong and GaoLin were required to compensate for the breach of contract. After a trial, the acting judge Chen Haoqi recently issued a ruling, determining that Cheung Kong won the case; Pan Su Tong has been declared bankrupt, and GaoLin must compensate over HKD 1.5 billion.

The judge stated that the dispute centered on the defendant's claim that the plaintiff's representative, Ma Li Zhi, had indicated through messages and in meetings that the plaintiff would not participate in the Ho Man Tin project and would not pay GaoLin HKD 1 billion for MTR. The defendant believed that the plaintiff had waived the "Right of First Refusal Agreement."

The judge noted that the plaintiff's representative did indeed state in the meeting, "You can find another developer to deal with. It's better than us marrying you for sure, better than us working with someone else," but believed that the plaintiff was hoping that the Industrial and Commercial Bank of China would provide a loan first. Ultimately, the bank only agreed to a loan limit of HKD 6 billion, which the plaintiff found unsatisfactory. The judge considered the representative's remarks to be merely negotiation tactics, serving as leverage to pressure the bank for concessions.

The judge concluded that if the plaintiff continued to participate in the project, they could ultimately gain approximately HKD 2.25 billion. After discounting, the judge determined that the plaintiff's current damages amounted to HKD 1.574 billion, thus ruling that GaoLin must compensate that amount plus interest

### Related Stocks

- [01113.HK - CK ASSET](https://longbridge.com/en/quote/01113.HK.md)

## Related News & Research

| Title | Description | URL |
|-------|-------------|-----|
| 巴拿馬港口｜長和啟動國際保障機制 要求當局磋商 斥馬士基接管構成損害 | 長和（001）就巴拿馬港口爭議通知巴拿馬，要求磋商並尋求解決方案。長和警告馬士基接管港口將造成損害，並可能引發法律行動。巴拿馬政府未提供港口運營保障，長和表示若港口特許經營權被迫終止，將無法繼續運營。巴拿馬海事管理局依賴馬士基成為港口臨時管 | [Link](https://longbridge.com/en/news/275768883.md) |
| 恆地慶祝 50 週年 再辦兩大活動 與 3500 名長幼基層迎新歲 | 恆基地產慶祝成立 50 週年，舉辦了「馬年耆樂團年宴」和「社區同樂日」兩大活動，吸引 3500 名長者、年輕人及基層家庭參與。活動包括團年飯、非物質文化遺產展示、幸運抽獎及兒童表演，旨在營造節慶氛圍並傳遞愛心與正能量。集團與 20 多個非牟 | [Link](https://longbridge.com/en/news/276030098.md) |
| SoFi 與 OSL 集團 (863) 達戰略合作，引入數字資產交易服務，業務首次擴張至美國本土以外市場 | SoFi Securities（香港）有限公司與 OSL 集團達成戰略合作，首次將數字資產交易服務擴展至美國以外市場。此合作為香港投資者提供通過 SoFi Hong Kong 應用程式交易多種數字資產的機會，標誌著 SoFi 全球業務的重要 | [Link](https://longbridge.com/en/news/275689746.md) |
| Sensor Tower 公佈 1 月全球手遊排行榜，騰訊 (700)《王者榮耀》重返全球收入榜榜首 | Sensor Tower 公佈 1 月全球手遊收入及下載量排行榜，騰訊的《王者榮耀》重返全球收入榜首，緊隨其後的是《Last War: Survival Game》、《MONOPOLY GO!》、《Royal Match》和《Whiteou | [Link](https://longbridge.com/en/news/275691039.md) |
| 收爐前半日市 阿里跌近 2% 美團盈警微跌 寧德及老鋪黃金染藍向上 ｜港股開市 | 港股在農曆新年長假期前的半日市表現疲軟，恆指開市報 26501 點，跌 65 點或 0.25%。阿里巴巴跌 1.8%，美團發盈警，預告去年虧損逾 233 億人民幣，股價微跌 0.6%。監管機構約談多家平台公司，影響市場氣氛。寧德時代、老鋪黃 | [Link](https://longbridge.com/en/news/276021929.md) |

---

> **Disclaimer**: This article is for reference only and does not constitute any investment advice.