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Eddie Lee

The battle over late tycoon and philanthropist Henry Fok Ying-tung’s estate looks poised to return to court after one of his 13 children brought a suit to clarify his entitlement to a share of a mainland property project.
The project is valued at about 30 billion yuan, or HK$38 billion.
Benjamin Fok Chun-yue, Fok’s third son by his first wife, on Tuesday filed a writ petition in Hong Kong’s High Court against his siblings – including brothers Ian Fok Chun-wan and Timothy Fok Tsun-ting – seeking to assert his rights to acquire a stake in the project in Nansha, Guangzhou, from a charitable foundation.
He argued that offspring from his father’s first family were inappropriately excluded from an option to acquire a share of the development.
He said the project might be worth substantially more than 30 billion yuan in light of its recent designation as a state-level development zone.
Henry Fok had 13 children with three wives. He died of cancer in 2006, when Forbes magazine estimated his fortune at US$3.7 billion.
During his life, he was the family’s head, with almost total personal control over his companies’ and the family’s finances.
Benjamin Fok is challenging a settlement reached in 2012 between the children, as well as other interested parties.
He found his elder brother, Ian Fok, who shares the same mother, had failed to reveal an option to buy back a 25 per cent stake in the project from a charitable foundation, and wanted the court to remove him as the estate’s administrator.
The Nansha project, a 7.3 square kilometre tract of land intended for commercial and residential properties, was developed under Henry Fok. He saw it as a multi-generational development project. Land was reclaimed and various facilities built including seawalls, roads, and ferry facilities. The work carried out before Fok’s death was only the preliminary phase.
According to Benjamin Fok’s writ petition, the late tycoon wished his family to continue with his multi-generational legacy.


Henry Fok’s children set to return to court over tycoon’s estate

Benjamin Fok Chun-yue walks out of High Court in Admiralty as a legal battle over the multi-billion dollar estate of his father, the late tycoon Henry Fok is over -- for now -- as Henry Fok's sons reached an out-of-court settlement after days of talks. 03AUG12

Benjamin Fok Chun-yue walks out of High Court in Admiralty Photo: SCMP Pictures

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Hong Kong

One of the late businessman’s 13 children files suit against siblings


Henry Fok’s children set to return to court over tycoon’s estate

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}One of the late businessman’s 13 children files suit against siblings

One of the late businessman’s 13 children files suit against siblings