Lawyer predicts continuing tussle over money for Nina Wang's in-laws
The family of Nina Wang's husband is in a position to pursue financial support if the Chinachem foundation is found lacking, a lawyer says
A tug of war between siblings of late billionaire Nina Wang Kung Yu-sum and her husband's family is likely to continue over how the in-laws will be financially cared for, as required in her will.
Under the will, Nina Wang, who died in 2007, also expressed her wish to form a "managing organisation" formed by prominent leaders to oversee the operation of the Chinachem Charitable Foundation, which she set up with her late husband in 1988.
Tension between the two families will probably arise from a High Court ruling yesterday that the foundation holds discretionary power to grant monetary support to Teddy Wang Teh-huei's family instead of being obliged to provide for them.
Since Nina Wang's three siblings are directors of the foundation, both families must come to terms on how such support would be given, or else more lawsuits may follow, a lawyer says.
"If [Teddy] Wang's family members are unhappy with the foundation's exercise of the discretion, they can take the matter to court," solicitor Billy Ma Wah-yan said. "They can ask for a court direction on how the foundation should provide for them."
According to the will, the foundation, apart from charitable work, was to provide for Nina Wang's parents-in-law, but both died in 2010. It should pay for the living and medical expenses of Teddy Wang's sister, Wang Teh-hwa, and look after her children. If necessary, it should look after his three other siblings and pay for their children's education.