-
Advertisement
Chinachem

Administrator for Nina Wang estate

Reading Time:2 minutes
Why you can trust SCMP

An administrator has been appointed to the estate of Nina Wang Kung Yu-sum, Asia's richest woman who died in April.

Mr Justice Andrew Cheung Kui-nung, in the Court of First Instance, appointed Joseph Lo Kin-ching and Derek Lai Kar-yan, partners of accounting firm Deloitte, to ensure the interests of the estate are looked after while the future of the estimated HK$100 billion fortune is decided.

The decision followed an application for the appointment of an administrator by lawyers for Tony Chan Chun-chuen, who was a close friend of Wang and claims to have a will that leaves the entire estate to him.

Advertisement

Facing off against Mr Chan is the Chinachem Charitable Foundation, controlled by Wang's siblings, which says it has a will from 2002 that leaves it everything. Also involved is the secretary for justice, who acts as the guardian of charities and is watching to see if he will be required to join in at any point.

Wang Din-shin - the 97-year-old father-in-law of Nina Wang who fought her for a decade over the share of the fortune belonging to his son, Teddy Wang Teh-huei, who was kidnapped in 1990 and never seen again - has also indicated he believes he is entitled to a share of the fortune.

Advertisement

However, Wang Din-shin has so far not been represented at the hearings and Mr Chan's side has indicated they may move to have him prevented from playing any part in proceedings. Jonathan Harris SC, for Mr Chan, told the court yesterday that his client was not ready to take that step just yet.

Advertisement
Select Voice
Select Speed
1.00x