Monday, April 15, 2013
Henry Fok’s multibillion-dollar estate is the subject of another lawsuit as the late tycoon’s son Benjamin Fok Chun-yue is attempting to remove his brother, Ian Fok Chun-wan, and his aunt, Fok Mo-kan, as executors of the estate.
In 2006, Henry Fok died from cancer at the age of 83 and is worth an estimated 3.7 billion dollars. Benjamin has already tried once to remove his brother and aunt as co-executors of the estate.
Despite reaching a settlement last year, Benjamin now accuses his brother Ian of withholding information concerning a plot of land that could be worth billions of dollars if developed. Benjamin claims that Ian can not be trusted as executor because of his failure to disclose information concerning a buyback option to purchase land in Nansha, Guangzhou. Benjamin also claims his elderly aunt should be removed due to her age and lack of contribution. The case has been adjourned to October 28.
See Austin Chiu, Henry Fok’s Family Takes Fortune Fight Back to Court, South China Morning Post, Apr. 10, 2013.