Chinachem

Judge slams Tony Chan as dishonest and immoral

PUBLISHED : Tuesday, 28 February, 2012, 12:00am
UPDATED : Tuesday, 28 February, 2012, 12:00am

A judge called Tony Chan Chun-chuen 'thoroughly dishonest and untrustworthy' yesterday while explaining his decision to freeze the fung shui master's assets and stop him from dodging a HK$130 million legal bill to the late billionaire Nina Wang Kung Yu-sum's estate.

Mr Justice Jeremy Poon Shiu-chor, in the Court of First Instance, said Chan (pictured) was a person of 'extremely low morality and integrity'. Poon was expounding on his February 9 rejection of Chan's bid to have lifted an injunction freezing his assets. He has ordered Chan to disclose all his significant assets.

Chan was left owing the huge legal bill to the administrator of Wang's HK$50 billion estate after losing his years-long fight to gain control of the money. He is fighting criminal charges that he forged a will purporting to make him the beneficiary of Wang, who died in 2007.

Chan is believed to have assets worth an estimated HK$511 million.

Poon noted that Chan's financial position was in doubt as he was facing a claim by the Inland Revenue Department for HK$330million in unpaid taxes. Two companies linked to Wang's Chinachem empire are also seeking to recover HK$2billion from companies owned by Chan.

The judge said Chan had employed 'delaying tactics' in response to requests for payment.

'Given his dishonesty, complete lack of integrity and commercial morality, and his audacity to perpetuate a deception to obtain financial advantages, there is a real risk that he might take steps to dissipate his assets in order to avoid payment of the additional costs,' Poon said.

Chan has been ordered to make an interim payment of HK$65 million - half the legal costs - to the estate administrator on Thursday.