Local News
Walter Kwok claims win in family trust court case
Walter Kwok Ping-sheung - ousted as chairman of Sun Hung Kai Properties in a family feud in 2008 - has won a court case in Liechtenstein.
It allows him to read documents that belong to the Kwok family trust, which holds more than 40 percent of the blue chip developer, according to those close to the ex-chairman.
But in a twist to the saga surrounding the Kwok family, SHKP said the court victory is invalid.
The verdict that was handed down on Wednesday favored Kwok against Thomas Wilhelm, whom Kwok claims to be a lawyer representing his brothers, and enables him to ascertain what rights he has in the trust to protect the interests of his family.
The trust was set up in 2010 to exclude Kwok, who subsequently objected and insisted that his entitlement in the pool of family wealth is worth more than HK$100 billion.
Kwok has since been trying to gain access to the trust's documents to prove his entitlement.
But a person on the side of Kwok's younger brothers - Thomas Kwok Ping-kwong and Raymond Kwok Ping- luen - said yesterday that Wilhelm does not represent them or the trust.
The person added the two sides entered into arbitration in Switzerland in 2011 and it was fully concluded and that Walter Kwok's requests, including the rights to the documents of the family trust, were rejected.
She added Walter Kwok only raised some minor issues in the court in Liechtenstein.
"Irrespective of the outcome of Walter Kwok in Liechtenstein, it will not in any way affect the arbitration result," the trust said in a statement.
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