Family members of the late Henry Fok Ying-tung, who have been split over the tycoon's multibillion-dollar estate, finally signed an out-of-court agreement yesterday ending all legal actions between them.
Benjamin Fok Chun-yue, who initiated the court fight, had asked the court to remove his elder brother Ian Fok Chun-wan, and an aunt, as executors of the estate.
Under the confidential agreement, Benjamin Fok, Ian Fok and their 85-year-old aunt, Fok Mo-kan, will remain co-executors of the estate. Benjamin Fok had wanted his brother removed on the basis that he took assets from the estate without the knowledge or consent of other executors.
He also wanted his aunt to be dislodged for her age and lack of contribution to the estate's administration.
A further 14 family members, including outgoing culture sector lawmaker Timothy Fok Tsun-ting, had interests affected by the outcome of the fight. The agreement, which ends three lawsuits between family members, was announced in the Court of First Instance as the two brothers made their first appearance in court.
Michael Thomas SC, for Benjamin Fok, told the court: 'The family ... confirm that they have come to an agreement as to how to resolve the recent litigation concerning the administration of the deceased's estate as a result of which satisfactory provisions have been made regarding the ongoing proceedings.'
The two brothers, from Henry Fok's first family, did not speak to each other and would not pose together for a photo together despite repeated invitations from reporters.