Hong Kong s attention!The 140 billion inheritance case is coming to an end!

Mondo Social Updated on 2024-01-31

Hong Kong, as one of the world's three major financial centers, developed earlier and has a very developed economy, and is the city with the highest per capita GDP in China.

As an important symbol of urban development, Hong Kong's skyscrapers can be described as one after another.

For example, the 484-meter-high Hong Kong Global ** Plaza, the 412-meter-high International Financial Center, and the 367-meter-high Bank of China Building.

However, we are not going to tell the history of Hong Kong's skyscrapers today, but to tell the story togetherThe shocking case and estate lawsuit related to the tallest building in Hong Kong's New Territories, "Nina Plaza".

A shocking case and a 100 billion inheritance

Nina Plaza consists of 88-storey and 42-storey commercial buildings, with a height of 3188 meters, low seat height 1637 meters. itRepresentatives: Nina Gong, the richest woman in Asia, and her husband Wang DehuiThere is a glass bridge between the two buildingsIt means that husband and wife hold hands and never separate.

Background.

Nina Gong, whose husband's surname is Wang Nina Gong, was born in Shanghai, a Hong Kong entrepreneur, and joined hands with her husband Wang Dehui in her early yearsOperates the Chinachem Group, with assets of more than 30 billion Hong Kong dollarsShe was the richest woman in Hong Kong and was named the richest woman in Asia by Forbes magazine

Chinachem Group:Hong Kong property developer, which is principally engaged in real estate investment, development and construction, is currently headquartered in Chinachem Plaza, Toni Road, Tsim Sha Tsui, Kowloon.

However,is such a beautiful meaning, but the reality reflected is extremely cruel.

In 1990, a shocking case occurred in Hong Kong: the husband of Nina Gong, the richest woman in Hong KongWang Dehui was kidnapped

The kidnapper ** called and asked Gong Nina for a ransom of up to 60 million US dollars, Gong Nina did not hesitate to pay immediately, she just needed her husband to return safely, butWang Dehui was ruthlessly torn by the cruel kidnappers, and his body was thrown into the sea, and Nina Gong and her husband were separated forever

April 3, 2007Nina Gong died of uterine cancer, but she stayed more than that140 billionThe inheritance of the Hong Kong dollar has caused huge controversy as to who will inherit it!

Inheritance, who should it belong?

According to Nina Gong's will in 2002, her estate was allocated by:Chinachem Charity**, which is controlled by his relativesfor charitable purposes, with a regulatory body composed of the Chinese premier, the secretary-general of the United Nations, and the chief executive of Hong Kong, andIt is hoped that the "Chinese Nobel Prize" will be established

However, only on the third day of Nina Gong's death, a man named Chen Zhencong claimed:She is Gong Nina's secret loverand holds a document of Nina Gong's last will, and he is the beneficiary of the estate.

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In the face of hundreds of billions of inheritances, the two sides quarreled, which led to a oneProtracted legal proceedings

After two years of preparation, the case commenced on 11 May 2009 in the Court of First Instance of the High Court of Hong Kong.

On 2 February 2010, after a multi-month hearingThe Court of First Instance of the High Court ruled in favour of Chinachem Charities**

On 14 February 2011, the Court of Appeal of the High Court dismissed Chan's leave to appeal, arguing that he had been dishonest in commencing the property dispute and abused the court process.

24 October 2011, Hong Kong Court of Final AppealChan Chun-chung's appeal application was rejected, and the four-year inheritance dispute was officially concluded

The winner seems to be Chinachem Charity**However, the case did not come to an end.

New Legacy Disputes

"Chinachem Charity ** vs Chan Chun Chung Case".After the end, when Nina Gong's estate was executed according to the will made in 2002, it faced a new problem:

Is the true meaning of a will a gift or a charitable trust?That is: is charity** the "beneficiary" or "trustee" of the estate?

The difference between one word and the legal status is very different!

In the case of a "beneficiary", Chinachem Charity** may accept the estate as a giftOwnership and disposition of it, and if it is a "trustee",Chinachem Charity** is restricted, if necessary, yesIt is subject to more constraints and supervision by the Department of Justice and other departments of Hong Kong and does not enjoy rights

So, a game is inDepartment of Justice and Chinachem Charities**The battle for the inheritance has begun.

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In 2012, the Department of Justice of Hong Kong issued a report on the following topicsGuardian of CharityFiled with the Court to ask the Court of First Instance of the High Court to interpret the WillClarify whether Tsinghua Mough Charity** is a "beneficiary" or "trustee" of the estate;Chinachem Philanthropy** has always considered itself to be the "beneficiary" of the estate rather than the "trustee".

In February 2013, the Court of First Instance of the High Court ruled that Chinachem Charities** would only be the "trustee" of the estate, not the "beneficiary" of the inheritanceDissatisfied, Chinachem Charities** appealed to the Court of Appeal of the High Court.

On 11 April 2014, Chinachem Philanthropy**'s appeal was dismissed by the Court of Appeal of the High Court** Will appeal to the Court of Final Appeal

On 18 May 2015, the Court of Final Appeal dismissed Chinachem Charities**'s appealMaintain Chinachem Charity**'s status as the "trustee" of the estate, not the "beneficiary" of Nina Gong's estate.

In addition, the Court of Final Appeal requested:Board of Directors of Chinachem Philanthropy**andThe Secretary for Justice (as a guardian of the public interest).Administrator of the estateThe plan of administration submitted by the three parties to the court for approval is required to draw up a plan for the execution of the Will made by Nina Gong in 2002, and after discussion, prepare the plan and submit it to the High Court for approval.

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I thought that this "tortuous and bizarre legacy" case could finally come to an end!Still, I didn't expect it.

In July 2023, High Court Judge Anthony Pau ruled that Chinachem Charities** had failed to meet the condition of "financial soundness".Not eligible to act as a "trustee" of the estate

That is to say,Chinachem Charity** was kicked out, cannot participate in the development of the estate management plan.

Therefore, the estate administration plan will be jointly formulated by the Secretary for Justice and the estate administratorRecommend a fit and proper person to act as the "trustee" of the new estate

The 100 billion inheritance case, the latest development

On 12 December 2023, the High Court** heard the case involving the Secretary for Justice, the administrators and Chinachem Charities**.

The Secretary for Justice said that since Chinachem Charities** is no longer eligible to serve as the "trustee" of the estate, a new company tentatively named Nina Wang Trustee Company Limited will be establishedThe new estate "trustee".

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estate "trustee".The sole member is the Financial Secretary Incorporated CorporationThe Financial Secretary IO has a fiduciary duty to the "trustee" of the estate.

The Secretary for Justice considers the estate to be a "trustee" of the councilIt is not necessary to include Chinachem Group directors or managementIn order to maintain its independence, the Chinachem Group, the Estate Regulator and the Estate "Trustee" have their respective functions.

As for the establishment of the "Chinese Nobel Prize", the Secretary for Justice is on the sideIt is proposed to set up 3 to 6 awards and set up different committees to facilitate management, such as the Asset Management Committee, the Charity Committee, the "China Nobel Prize" Committee, etc.

After reading this "inheritance dispute" that has lasted for more than ten years,Some netizens sighed

The actions of the world are illusions. They were in a hurry, and it was in vain. Accumulate treasures, and do not know who will receive them. ”

Rich people don't seem to be happy. ”

It's good that I don't have that much money and I don't have so many worries. ”

What do you think?Welcome to leave a message in the comment area.

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