The chairman of the Bank of East Asia has emerged as an executor of the estate of the tycoon dubbed the king of electric rice cookers, court documents reveal.
David Li Kwok-po filed a claim in the Court of First Instance as one of the two executors of the estate of William Mong Man-wai, the founder of Shun Hing Holdings, who died at 82 last July.
Li and solicitor Vic Choi Fan-keung have applied to the court for direction regarding various claims by the defendants: Mong's first wife Serena Yang Hsueh-chi; their daughter Cynthia Mong Sien-yee; his widow Wong Pui-fan, and Timmerton, a Liberian-registered firm.
Yang, Cynthia Mong, and Timmerton applied to the court last October for a declaration of their entitlement in the Huge Surplus Trust. They filed the claim against the trustee and the trust's representative. The trust representative, Huge Surplus Limited, is a shareholder in Shun Hing.
Cynthia Mong and Wong are beneficiaries under William Mong's last will, which was executed in June 2007, the executors' application says.
Wong claimed to be the owner of assets, by survivorship, in two joint-name banking and securities accounts with the late Mong. The executors are asking the court whether the estate should take steps in asserting it has a beneficial interest in the funds in accounts at the Bank of Tokyo-Mitsubishi and Gainwell Securities.