Fung Shui master Tony Chan Chun-chuen has for the first time publicly offered to settle late tycoon Nina Wang Kung Yu-sum’s inheritance out of court with rival Chinachem. “I will respect the court’s decision,” Chan said outside the High Court after a probate hearing yesterday. “Of course, if this matter can be settled out of court, it can save a lot of time.”
He said he has never thought the matter could not be settled and believed things could be resolved quicker “if all parties can let go of their own interests.”
Meanwhile, Justice Johnson Lam Man- hon allowed the hearing to be postponed from April 27 to May 11. Chan’s legal representative, Jonathan Harris, had said this was the absolute latest date he was willing to accept for the beginning of the trial. Chinachem had wanted a two-month extension, but Lam did not see sufficient reasons to grant the request.
Chinachem’s argument was that there was a new legal team taking on the case and time was needed to study and prepare documents. In reply, Harris argued that Chinachem “has only one witness to cross-examine. We [also] want to finish all the evidence by July.” He added that if an adjournment was granted, his side will be asking for full costs to be paid by the plaintiff if Chan was successful. Harris calculated the adjournment could result in more than HK$4.4 million in administrative and security costs.
Chinachem counsel Denis Chang told the court that since they are “a new legal team” they need to go through many documents. “Maybe you’ll have to work double hard,” Lam replied. “I am not persuaded that the trial cannot start on May 11.”
Outside court, Chan’s solicitor Jonathan Midgley said Chinachem’s financial stability was of concern and part of the reason why their side was applying for security of costs. “We are grateful the court held the date suggested by us. Any adjournment causes problems for the party left behind,” he said. The probate hearing will continue on March 12.
The dispute between the two sides began after Wang’s death in 2007, when Chan claimed a will written by the high-profile billionaire in 2006 left everything to him. Wang’s siblings claim a 2002 will left everything to the Chinachem Charitable Foundation.