Government Appointed Administrator i struck by fire Court Wang Fuk has outlined a HK$127 million refund plan for displaced homeowners, but has yet to schedule a general meeting for owners to decide on property matters.
Hop On Managementappointed as the administrator of the Tai Po housing estate after the board of owners disbanded after the fatal fire, announced the refund plan during an online Zoom meeting with residents on Tuesday.
The conference was the first of two sessions hosted by the management firm to explain its work, the owners’ board’s financial situation and reimbursement arrangements for the renovation project that was underway when the fire broke out in November.
Hop On representatives said during the conference that the owners’ board had paid about HK$180 million to contractors for the renovation project and a remaining balance of about HK$127 million in the property’s renovation fund would be reimbursed.
Owners of the Wang Fuk Court apartments had to pay between HK$150,000 and HK$180,000 in six installments after the renovation began in July 2024, depending on the size of their houses.
Frankie Chan, Hop On’s director of service, said the refund amount each family is entitled to will be based on the installments they have previously paid.
According to Hop On’s data, 102 families had paid all installments and would receive a refund ranging from about HK$84,700 to HK$98,840.
A total of 1,766 households had paid five installments and would receive approximately HK$61,200 to HK$71,400. Meanwhile, 29 families had paid three or four installments and their refund would range from HK$15,800 to HK$44,030.
Hop On said 30 families had only paid one or two installments, while 57 had not paid at all. In total, these households owed between HK$6,600 and HK$80,800 to wealth management.
Chan said refunds will be distributed starting in June, with details to be announced at a later stage. He did not say whether the company will collect the amount owed by the residents.
During a question-and-answer session, a resident asked why Hop On had not scheduled a meeting with the owners despite 247 of them – making up about 12 percent of the households in Wang Fuk Court – petition for the meeting. A meeting of owners will allow residents to vote on property matters.
In response, Chan said he noted that previous owners’ meetings had been embroiled in controversy over proxy voting and statutory quorums.
Hop On must be “strict and accurate” in verifying the authenticity of owners’ signatures, he said, adding that the firm is seeking legal advice.
During Tuesday’s briefing, Hop On also said Wang Chi House – the only block to escape the fire – may need more than HK$30 million in repairs.
Hop On said the building suffered damage to its electrical and water systems and fire safety equipment, citing visual examinations by a team of experts.
