Tony Chan faces new Wang-linked legal battle

PUBLISHED : Sunday, 06 March, 2011, 12:00am
UPDATED : Sunday, 06 March, 2011, 12:00am

Fung shui master Tony Chan Chun-chuen is to face yet another lawsuit after failing in his bid to claim deceased billionaire Nina Wang Kung Yu-sum's multibillion-dollar estate.

A company formerly owned by Wang lodged legal proceedings yesterday against a company owned partly by Chan. This came less than three weeks after Chan failed in the Court of Appeal to overturn the dismissal of his attempt to wrest Wang's estate, estimated to be worth HK$100 billion, from the Chinachem Charitable Foundation.

Yesterday's case opened a new front in Chan's string of costly legal battles for Wang's wealth. He has already indicated he will appeal to the Court of Final Appeal, maintaining his claim that Wang bestowed her fortune on him out of romantic love.

Chan is also being sued for HK$350 million in unpaid profits tax believed to be related to fung shui fees he received from Wang. Chan failed to declare the income.

He is also preparing for a judicial review he initiated, to challenge the Inland Revenue's refusal to accept his objection to some tax assessments, which will be heard in May.

Chan may also face prosecution over the alleged forgery of a will he claimed Wang signed on October 2006 bestowing her Chinachem fortune on him. He has been under criminal investigation by police for the past year, after a court ruled the will was forged.

The latest lawsuit was initiated by Veron International against RCG Holdings, in which Chan is a major shareholder. Records show Veron is another major shareholder of RCG.

Details were not known as the filing was not available to the public. The claim was filed under the category 'miscellaneous proceedings' and the subject matter 'company'.

On February 14, the Court of Appeal upheld a lower court's decision that it was Wang's intention to leave her fortune to the Chinachem Charitable Foundation, and dismissed Chan's appeal.

On February 17, Chan announced he had told police that someone had tampered with the will he says was Wang's.