The core feuding members of late Hong Kong tycoon Henry Fok Ying-tung's family have reached an "agreement in principle" towards resolving their ongoing court battle over his HK$11.3 billion (S$1.95 billion) estate. The High Court heard on Monday (Jan 24) that the parties would still need time to work out the details of an agreement and had asked for another.
The late Hong Kong tycoon Henry Fok Ying-tung's feuding family has made "some progress" towards settling an ongoing dispute over his HK$11.3 billion (S$1.95 billion) estate, a court has heard. However, it remained unclear whether an overall settlement was possible, with parties requesting another 24 hours for talks in an application granted by Mr Justice David Lok Kai-hong on Thursday.
The battle over the HK$11.3 billion (S$1.95 billion) estate of late Hong Kong tycoon and philanthropist Henry Fok Ying-tung reopened in court on Tuesday with three of his 13 children seeking to restore his flagship company’s right to a valuable mainland China development project. The feuding family reached a deal to end all legal actions over the billionaire’s estate in.