Another round of litigation challenging the Link Reit would not hamper its listing, says an independent legislator who has threatened to seek a judicial review.
Albert Chan Wai-yip is considering whether he should seek a judicial review on the basis that it violates the Public Finance Ordinance.
'The Court of Final Appeal's judgment has affirmed the legality of the Link Reit listing, so whether I seek a judicial review will have no impact on the initial public offering,' Mr Chan said yesterday.
'I am still studying the case with senior counsels. It will take another two to three weeks to decide whether we can take the government to court for violating the Public Finance Ordinance.
'But even if I take it to court and win the battle, all I am going to achieve is to force the government to go to the Legco's Finance Committee for ask for the money to be paid to the Housing Authority; I can't block the listing.'
The Link Reit, which launched its $21.35 billion offering last December, called off the float at the last minute because of a legal challenge from a 67-year-old public housing estate tenant, Lo Siu-lan.