Late tycoon Yu Pang-lin’s entire HK$10 billion estate can go to charity, High Court rules
Yu, who owned kung fu legend Bruce Lee’s former mansion, died three years ago and had said he would donate his earthly possessions to help those in need
A Hong Kong court on Thursday validated the will of late billionaire philanthropist Yu Pang-lin giving his entire estate – worth an estimated HK$10 billion (US$1.28 billion) – to charity.
The judge said the case illustrated “the better part of human personality”.
Yu’s grandson Pang Chi-ping, the sole trustee of the Yu Panglin Charitable Trust, had asked the High Court in 2015 to declare the will made on July 21, 2011 the “true last and final will” of the tycoon, and to override two caveats raised by his son Pang Ah-fan and grandson Pang San-hon. These two family members later declared that they would not challenge the will.
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On Thursday, Pang’s lawyer revealed that the doctor who examined Yu found him to be in a good mental state when he made the will donating all of his assets, which included billions in cash and properties. Among them was Hong Kong kung fu legend Bruce Lee’s former mansion in Kowloon Tong, which Yu bought for about HK$1 million in 1974.
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In granting probate to Pang – a court order authorising him to execute Yu’s will – Mr Justice David Lok observed that probate cases often reflect human personality due to the involvement of family members, with brothers and sisters turning against each other.
But the present case was different as Yu’s family supported his charitable intentions to donate his full estate to the Yu Panglin Charitable Trust.
