Hong Kong proposes mandatory renovation briefings to combat bid-rigging
Amendment to Building Management Ordinance aimed at enhancing homeowners’ participation and closing existing legal gaps after fatal Tai Po fire
“From our experience of handling disputes in recent years, we found that many conflicts arose from an information asymmetry,” she told a radio programme.
“It would be helpful if homeowners did not rely solely on the general meeting to ask questions and make decisions, which would be too rushed … the briefing could provide more information for owners to make an informed decision and allow the management company or the management committee to address their questions before the general meeting.
“If they fail to do so, owners would be more motivated to attend the meeting on their own to vote.”
The fire, which broke out at Tai Po’s Wang Fuk Court on November 26, killed 168 people and displaced nearly 5,000 residents.