Squabbling Fok sons reach deal on his estate

The sons of late tycoon Henry Fok Ying-tung have reached an agreement 'in principle' to settle a legal battle over their father's multibillion-dollar estate out of court, the Court of First Instance heard yesterday.

Benjamin Fok Chun-yue, who initiated the court battle, his elder brother Ian Fok Chun-wan and 14 family members were in the process of putting the agreement into writing yesterday afternoon.

An out-of-court agreement would mean the family could avoid having its disagreements aired in public and would also prevent a lengthy and expensive court fight that would be likely to involve more than 20 lawyers, including six senior barristers.

Linda Chan SC, for one of the defendants, Benjamin's sister Nora Fok Lai-lor, said: 'The position is that in principle agreement has been reached between all parties.'

Chan said lawyers were 'in the final stage of the documentation of the agreement', explaining why many of the lawyers who had been due back in court to reveal whether the case would go ahead were absent. The case is one of three lawsuits over Fok's fortune.

Chan said the parties were expecting to tell the court the 'final outcome' at 2.30pm today and were confident a hearing would not be necessary.

Mr Justice Jeremy Poon Shiu-chor adjourned the case until today.