The administrator of the fire-damaged Wang Fuk Court estate has assured residents that the Hong Kong government will assume responsibility for insurance claims if owners accept the buy-back offer.
Hop On Management Company, the estate administrator, made the announcement during a Zoom briefing for residents on Wednesday. The government has allocated HK$6.8 billion to purchase flats in seven blocks affected by the fire, with an additional HK$1 billion for the remaining block.
Frankie Chan, service director at Hop On, stated that if owners sell their titles to the government, authorities will handle all rights to the property all-risks insurance claims with China Taiping Insurance (HK) Company. The government will manage legal procedures and bear the risks of compensation amounts and timelines.
Some residents who attended the briefing noted that questions remain about how and when they might receive any compensation. The buy-back plan covers the Tai Po estate damaged in the fire.
