PROPERTY developer Cecil Chao Sze-tsung said yesterday he had reached an agreement with his two brothers in a family dispute over the shipping empire of their sick father. The three sons of tycoon Chao Tsong-yea, 87, went to the Court of First Instance yesterday over the appointment of a committee to oversee their father's affairs. The hearing was held behind closed doors, but Cecil Chao, 62, emerged from court to say he and his brothers - Frank Chao Sze-bang and George Chao Sze-kwong - had agreed to settle the dispute. Cecil Chao refused to disclose who would sit on the committee or how many members would be appointed, but said the hearing would resume on Tuesday for the drafting of documents. Frank Chao, 64, who became chairman of Wah Kwong Shipping Holdings after his father retired last year, remained tight-lipped yesterday. George Chao, 58, took over the shipping company as vice-chairman. Yesterday, the parties held an hour-long discussion outside court and spent less than 10 minutes in the hearing held in chambers. The dispute over management of their father's estate made headlines last month when Frank and George Chao and their sister, Mary Chao Sze-leung, 57, went to court over the affair. It was heard that Cecil Chao and his mother, Chao Nyi Ya-tsung, wanted a committee appointed to oversee the business interests of Cecil Chao, who has been declared mentally unfit. But Frank, George and Mary Chao were against the appointment of a committee. Chao Nyi Ya-tsung and Mary Chao were also named as parties concerned in yesterday's proceedings, but did not appear in court.