Nan Fung founder's wife sues his daughter
The wife of Nan Fung Group founder and chairman Chen Din-hwa has filed for damages and other relief against his daughter, Chen Wai-wai in a dispute over property.
Yang Foo-oi filed the claim on Monday in the Court of First Instance, naming Chen Wai-wai as defendant.
Yang is claiming for damages, specific performance - a legal term demanding a specific course of action, usually as spelled out in a contract - equitable compensation and other relief from Chen Wai-wai.
The relief she is claiming is in respect of alleged misrepresentation, undue influence, breach of contract and other alleged occurrences.
Those alleged occurrences relate to the arrangement, distribution, agreement, declaration of trust, transfer and/or assignment of properties from Chen Din-hwa to Yang, Chen Wai-wai and/or Chen Wai-wai's sister; and/or from Chen Wai-wai to Yang, and/or between Yang and Chen Wai-wai.
The property referred to includes what the document termed 'real' properties and personal property. The claim refers to events that allegedly occurred from 2003 to 2005.
Born in 1923, Chen Din-hwa, 87, is ranked No8 on this year's Forbes Hong Kong's Richest list, and No297 on the world list. He was reported to be worth US$3.2 billion. Chen moved to Hong Kong from the mainland in 1949. He set up cotton-yarn maker Nan Fung Mill in 1954. Nan Fung Group is now a property developer which also has shipping interests.
Chen Wai-wai's daughter, Karen Cheung, said in a statement yesterday that the family is committed to ensuring the matter remains separate from the company's affairs.