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Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

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Tuesday, April 2, 2013

New Claim To Nina Wang Kung Yu-sum's Fortune

WillsAnthony Quinitin Cheung is the latest person to interject himself in the Nina Wang Kung Yu-sum estate dispute. He is also her self-proclaimed godson. Cheung claimed that Wang sent him a secret correspondence "asking him to help her run her charitable foundation" five days before her death on April 3, 2007. He has reportedly shown the letter to the paper, Sing Tao Daily. The letter apparently had the signature of Wang in the lower left-hand corner of the letter. The letter stated, "'It is my last wish that my Godson, Anthony Q Cheung, will play a major role in running my estate and my various charitable foundations.'" Wang also apparently wrote that she trusted that her godson would take her and her late-husband's immediate family and the her employees. 

While the letter is similar to her will, this is only time that any document has mentioned that Cheung should be appointed the trustee of her estate. The judge overseeing this case, "High Court Justice Jeremy Poon Shiu-chor[,] ruled that the Chinachem Charitable Foundation is a trustee and not a benenficiary." Therefore, it is the chartiable organization's job to manage the estate and execute the terms of the will. This is where Cheung comes into our picture. If Cheung is placed in charge of the foundation then he will also be in charge of managing Wang's estate and executing her will. As for why Cheung kept the correspondence a secret for almost 6 years, he claims that he didn't want affect the legal cases.

See Staff Reporter, $83 Billion Claim, The Standard, Mar. 25, 2013.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.

http://lawprofessors.typepad.com/trusts_estates_prof/2013/04/new-claim-to-nina-wang-kung-yu-sums-fortune.html

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