Feuding family of late Hong Kong tycoon Henry Fok call for time out to consider alternatives to court battle
- Tycoon’s daughter Nora Fok granted adjournment of 48 hours to ‘find a way out’ of dispute over option to buy back a valuable share in a Guangzhou development
- Presiding judge says he would ‘welcome any serious attempt to settle’, noting that continuing the trial may not be good for the family’s image and reputation
The feuding members of late Hong Kong tycoon Henry Fok Ying-tung’s family have put the brakes on their ongoing court fight over his HK$11.3 billion estate in response to the judge’s call for them to consider alternatives to further litigation.
The High Court on Tuesday granted Nora Fok Lai-lor, the tycoon’s daughter, an adjournment of 48 hours, in an application that was also supported by her siblings and fellow plaintiffs, Benjamin Fok Chun-yue and Patricia Fok Lai-ping.
“Your lordship’s words at the close of play on Friday and yesterday have not fallen on deaf ears,” Nora’s counsel, Benjamin Yu SC, told Mr Justice David Lok Kai-hong. “Certainly it seems to us … there should be a serious attempt to try to find a way out instead of having final adjudication in this matter.”
‘Sad’ family feud over late Hong Kong tycoon’s fortune will proceed to trial
But Yu added: “Asking for time should not be treated or seen as any indication we are less confident now.”
The three siblings have taken the rest of the family, and a number of companies, to court over a share of their father’s dream project in Nansha in Guangzhou, which was considered significant to the valuation of one of the late tycoon’s three flagship companies, Henry Fok Estates.
The tycoon married three times and had 13 children before he died of cancer at the age of 83 in 2006.
All family members and a number of companies reached a settlement over the estate in 2012.
But a rift emerged among the children from Fok’s first marriage, with Benjamin, Nora and Patricia accusing their elder brothers Ian Fok Chun-wan and former legislator Timothy Fok Tsun-ting of keeping them in the dark about an option to buy back the share.
The High Court has heard five days of opening speeches from all parties, with Ian denying any breaches of his fiduciary duty, while the other family members from his father’s second and third marriages urged the court not to set aside their previous settlement agreement.
The case was set for 60 days, but parties have estimated that the hearing of evidence alone could take 72 days, with closing speeches expected to take up another 10 days.
The presiding judge has lamented how “very sad” it is that this dispute should end up in court.
Last Friday, Lok expressly urged parties to “consider other options”, out of concern that there would be “further damage to relations” once witnesses started testifying in court this week.
He then asked for an update on Monday, but was told by Benjamin’s counsel, Clifford Smith SC, that there had been no instructions to adjourn the case.
Upon hearing Nora’s application on Tuesday, Lok said: “I would certainly welcome any serious attempt to settle.”
“I think the late Mr Fok would not have liked to see his family splitting like this,” the judge added.
Judge urges feuding family of late Hong Kong billionaire to drop lawsuit
Wong Yan-lung SC, said his client, Ian, understood the judge’s concern and agreed to the adjournment.
But Wong also revealed that parties had been “talking in some ways” and that attempts to find an amicable resolution instead of litigation “[have] been going on for quite a while”.
“One has to be realistic also and prepare for all eventualities,” Wong said.
Victor Dawes SC said his client, Timothy, aligned with Ian.
Counsel Samuel Wong, for the second and third families, said his clients “would not stand in the way of any attempt to settle the dispute”.
In granting the adjournment, the judge said he did not underestimate the difficulties of talks and would not be surprised if parties came back on Thursday to proceed with hearing evidence.
Dispute over late Hong Kong tycoon Henry Fok’s estate ‘rather sad’: judge
But he also observed that continuing the trial “may not be good for the image and reputation of the family as a whole” as the case was being closely watched.
Lok urged parties to explore different options with the aim of achieving longer peace and harmony to ensure there would not be a repeat of what happened after the last settlement in 2012.
“Hopefully this time something meaningful [can be achieved],” he said. “Let’s test the waters.”
Benjamin, who was the only family member to attend court as he was originally expected to testify as the first witness, declined to comment.
