(Lo family estate dispute) Questions center on founder's willBusiness | 5 Jun 2018 5:23 pm
Hearings continued in the High Court for a sixth day today in the case filed by Lo To Lee-kwan, the matriarch of Great Eagle Holdings (0041), to dismiss HSBC as trustee of the family trust.
HSBC International Trustee's lawyer, Paul Girolami, QC, asked the 98-year-old about a letter of wishes signed by her and her late husband Lo Ying-shek in 1988. The document specifies how the family trust allocates assets to the couple's children.
Lo To said she only remembered a bit of the details and asked the lawyer: "What is the importance of the letter of wishes?"
Girolami pointed out that after her husband died in 2006, the family had a meeting and she revealed the details of the letter to her nine children for the first time. Lo To said she remembered the event, but not the details.
When the lawyer said he wanted to ask about two depositions, Lo To immediately asked: "Why are you asking me a mixture of things?" Judge Wilson Chan Ka-shun then reminded her that she only had to answer Girolami's questions.
Girolami pointed out that what the matriarch said in court was different from the depositions and questioned whether she knew what her late husband's will was as she never discussed the details in the letter of wishes with him.
Lo To initially agreed with the statement, but when Girolami questioned about the content of the depositions, she immediately denied it. "All of these were discussed with my husband first. After discussing with him, he wrote it down. After discussing with me a bit, he wrote it down himself. All the decisions were made by him,” she said.
Girolami then asked her again whether she knew what her husband's will was. Lo To replied: "I didn't question a lot of things that he did."