Kung Yan-Sum

Ringo Wong, former assistant to Nina Wang, is glad that "justice exists in heaven and on earth", after the courts ruled on Chinachem's role in her estate. Photo: Jonathan Wong

Ruling tightens reins over Nina Wang's HK$83b fortune

The High Court ruled yesterday the Chinachem Charitable Foundation - set up by the late tycoon Nina Wang Kung Yu-sum - held her HK$83 billion fortune on trust rather than as an absolute beneficiary under her will. As a trustee, the foundation must carry out terms of the will, including performing charitable works, rather than receive the estate as a gift free of obligations, Mr Justice Jeremy Poon Shiu-chor said in the Court of First Instance.

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