Asia's richest woman, Nina Wang, is refusing to divulge the source of the $1.5 billion she allegedly used to acquire a major shareholding in a key Chinachem company, a court heard yesterday.
Ms Wang's counsel, John Scott, SC, told the Court of Appeal that she did not have time to answer all questions on the share acquisition put by administrators of the estate of her husband, Teddy Wang.
Court-appointed administrators Brian Cheung Yat-ming and Tan Man-kou secured in June a judge's order authorising the questioning of Ms Wang over a long-running probate battle with her father-in-law, Wang Din-shin. Mrs Wang is appealing against the court order.
Mr Cheung suspected the money may have come from Teddy Wang's multi-billion-dollar estate or the Chinachem group.
Mr Scott said the Chinachem chairwoman had answered some of the questions but found the rest so 'unfortunately worded' and wide-ranging that she could not answer.
He said it was 'impossible for a wealthy woman' to identify the source of her wealth.