Regal boss rejects 'hostage mother' claim in Eagle rowTop News | Carrie Chen 19 May 2017
The Great Eagle family's second son and Regal Hotels International Holdings chairman Lo Yuk-sui says he has no interest in property giant Great Eagle Holdings and it is ridiculous for him to be accused of "taking his mother hostage to contend for power."
Speaking at Regal REIT's annual general meeting yesterday, Lo said: "I feel wronged and disappointed. I have no interest in Great Eagle, I already have a lot of business."
He said he rarely responds to media writeups because of his personality. "I don't want to discuss what's right and wrong. I think the innocent one will prove his innocence eventually. Friends familiar with me know that."
Lo emphasized he has a clear conscience and only cares about the health of his mother, Lo To Lee-kwan.
"Although my mother is getting old, she has a clear mind," he said. "She is smart and reasons things out."
Lo To filed a High Court application last December to dismiss the family trust, HSBC International Trustee.
Lo Yuk-sui said Lo To didn't make a rushed decision and the family had a meeting before to discuss the issue. "My mother has a lawyer and took legal advice before the action."
He said his mother was dissatisfied with the trustee as it did not follow her instructions. "She will rearrange the assets fairly and reasonably if she wins the case."
Lo Yuk-sui added that he was surprised when his brother, the family's third son, Lo Ka-shui, said he didn't know about the decision in advance.
Yesterday afternoon, Lo To was spending time with her youngest daughter, Annie Lo Hung-suen, at the Regal Hotel.
She said she goes wherever she wants. "I go everywhere that I like," she said.
Annie Lo said: "My mother is very happy now."
Meanwhile, market rumors indicate that all nine children of Lo To and her deceased husband and Great Eagle founder Lo Ying-shek are beneficiaries of the family trust.
It was reported earlier that the beneficiaries included only six children, excluding Lo Yuk-sui, second daughter Gwen Lo Wai-ki and Annie Lo.
"The other six were disclosed because they are on the board of Great Eagle, but in fact, all nine of them are beneficiaries," sources said.