Trust Law | South China Morning Post
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  • Apr 18, 2015
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Trust Law

New financial law all gobbledygook

The new law, the Anti-Money Laundering and Counter-Terrorist financing (Financial Institutions) Ordinance will plug .... loopholes because it imposes a single set of requirements on all financial firms.

SCMP, March 31

Tuesday, 3 April, 2012, 12:00am

Trust law reform aims to bolster competitiveness

A planned modernisation of Hong Kong's antiquated trust law aims to allow the city to better attract wealthy individuals and companies who want to set up investment and estate planning vehicles.

23 Mar 2012 - 12:00am

Fund tracking

Public consultation on the proposed new law to oversee charities ends this month and it has prompted a certain amount of controversy. Quite a few civil society organisations have raised strong objections to the idea of a government-appointed charities commission. For them, such an institution would wield too much power and pose a threat to the autonomy of charities.

6 Oct 2011 - 12:00am

HK developer issues writ for US$560m

A businessman is claiming more than HK$560 million in a lawsuit against Deutsche Bank and others over a deal involving a premium office building in Beijing.

7 Jul 2011 - 12:00am

Court upholds Bossini heir's right to control HK$330m family fund

The Court of Appeal yesterday granted the son of the late founder of the Bossini clothing label total authority over a HK$330 million fund left to the tycoon's descendants.

1 Jul 2011 - 12:00am

Prenuptial pact lets reality take over when romance fails

Tiger Woods' recent divorce has brought the issue of prenuptial agreements firmly into the spotlight. Rumoured to be worth more than US$2 billion, he is thought to have paid his now former wife 'only' US$100 million. And the reason is said to be a solid prenuptial agreement.

12 Sep 2010 - 12:00am

Kwok family saga shows need for firms to set up charters

Lai See's piece on the current boardroom rumblings of Sun Hung Kai Properties ('Lee imparts a little wisdom on saga of the Kwok brothers', May 20), mentions other business-owning families in Hong Kong. The comment that it is 'lucky' that the late founder of Sun Hung Kai, Kwok Tak-seng, arranged a family trust to hold all assets, is worth more than a passing thought.

31 May 2008 - 12:00am

Keeping crucial assets all in the family

Increasing number of high-net-worth individuals are preparing early with special solutions for a smooth transfer of wealth to relatives

Private trusts are growing in popularity and many people consider them an ideal way to retain greater control over their assets while maintaining the integrity and validity of the trust structure.

23 Oct 2007 - 12:00am

Tycoon's relative files writ over assets

The granddaughter of late property tycoon Law Ting-pong has taken legal action against another family member for an alleged failure to provide information on trust properties.

29 Aug 2007 - 12:00am

STRIFE AFTER DEATH

ANYTHING RELATED TO death and dying is anathema to traditional-minded Chinese people, including drafting wills. And those Hongkongers who do make such preparations tend to leave their assets to family members. But with shifting social mores, a growing number are making bequeaths to pet causes - or beloved pets.

11 Jan 2007 - 12:00am

Bitter row over Hotung trust funds drags on

Billionaire Eric Hotung is being sued by his son Sean Hotung, who is demanding documents relating to the secret trusts the philanthropist set up in 1979.

It is the latest twist in the son's battle to find out what happened to $100 million he says is missing from the trusts.

27 Jul 2006 - 12:00am

Update or lose out

TRUSTS

THE HONG KONG Trustees' Association (HKTA) and the Society of Trust and Estate Practitioners (STEP) believe the Trustee Ordinance requires updating to keep Hong Kong competitive. Therefore, they commissioned attorney Mark Lea to write a paper on the proposed amendments.

20 May 2006 - 12:00am

Tycoon's son wants answers on trust funds

Sean Hotung is trying to find out what has happened to $100 million

A son of billionaire Eric Hotung is seeking clarification over what has happened to the $100 million supposedly put into two trusts the tycoon set up for him and his siblings more than 25 years ago.

6 Oct 2005 - 12:00am

Millions missing, says tycoon's son

Sean Hotung says trusts have fallen into the red and trustee is avoids questions

A son of billionaire Eric Hotung is seeking clarification over what has happened to the $100 million supposedly put into two trusts the tycoon set up for him and his siblings more than a quarter of a century ago.

6 Oct 2005 - 12:00am

How the tycoon's problems began ...and why he lost in court yesterday

How the tycoon's problems began ...

1978 Eric Hotung makes will.

1979 He sets up secret trusts, one for three of his five sons and one for his three daughters. The assets are shares in Hotung Enterprise and Hotung Investment China.

5 Mar 2005 - 12:00am

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