Family saga ends as $24m gift returns
AN 81-year-old man, said to be suffering from senile dementia when he gave $24 million worth of property to one of his nine children, had it returned yesterday.
And in keeping with the extraordinary circumstances of the gift, signed over to his 43-year-old daughter Ms Chan Wai-chun on a Tsim Sha Tsui bus, she decided to give it back during an emotional family yum cha on Saturday.
In a case described by one counsel as ''an everyday story of Hongkong folk'', plaintiff Mr Chan Man-yee agreed to withdraw allegations of fraud, deception and impropriety against his daughter in an out of court settlement.
Mr Neville Sarony, QC, announced the deal before Mr Justice Jones in the High Court yesterday after a five-day hearing.
The Chan family, said by eldest son Peter, 51, to be normal and happy, was plunged into a major row when the fifth sibling, Wai-chun, claimed that their father had given her his most expensive asset - commercial property at 28 Marble Road, North Point.
Peter claimed it had always been the understanding that their father's estate would be divided equally between the children.