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CK Asset (1113) has withdrawn a lawsuit against Goldin Financial (0530) chairman Pan Sutong, according to local media reports.

On February 19, CK Asset filed a writ against Pan and his privately-owned Gold Brilliant Investment, claiming that the chairman breached an agreement granting CK the right of first refusal on the Ho Man Tin station phase one property development.

The legal dispute came 10 days after property group Great Eagle Holdings (0041) announced it had entered into an agreement with Gold Brilliant Investment and Pan under which it would receive the development rights for the plot.

But CK said later that the writ against Gold Brilliant Investment and Pan “is probably a misunderstanding.” It said the writ was to “remind the concerned to adhere to the signed agreement,” adding that once the matter is resolved, the company would have the writ withdrawn.

MTR Corporation (0066) meanwhile said it will work with Great Eagle on the phase one property development.

Separately, CK Asset sold a 2,995-sq-ft unit at 21 Borrett Road in the Mid-Levels for HK$377.37 million, or HK$126,000 per sq ft.

Last month, CK Asset sold a 3,378-sq-ft penthouse with a private swimming pool at the project for HK$459.4 million, or HK$136,000 per sq ft, along with three parking spaces, with the price per sq ft hitting a new high among flats in Asia. The management fee of the unit is a mere HK$36,138 per month.

CK Asset drops suit against Goldin chairman