Third wife of late tycoon Lim Por-yen welcomes court ruling after will dispute victory

The third wife of late tycoon Lim Por-yen has welcomed a High Court ruling that will allow her and her daughter to inherit nearly HK$400 million of Lim's estate.

In a statement on Tuesday, Koo Siu-ying and her daughter Pearl Lam said the ruling affirmed their efforts in defending the authenticity of Lim’s final will in the past 20 years.

Koo added that they remained silent and calm despite "the pressure and obstruction caused by various unreasonable litigation tactics and malicious media manipulation."

However, they pointed out unresolved issues, claiming that in the final month of Lim, a large amount of assets was transferred from his estate without his consent.

The third wife and her daughter have disputed a 2004 will of the Lai Sun Group founder that gives most of his assets to the wives and children from his first two marriages.

Earlier this month, the High Court ruled in favor of Koo, saying that Lim, who was diagnosed with dementia, lacked the mental capacity to draft a new will in 2004 that revoked an old one made in 1973.

The mother-daughter pair estimates that Lim's estate is valued at HK$2.9 billion or more.

Lim's second son and Hong Kong Tourism Board chairman, Peter Lam Kin-ngok, expressed concern about the ruling as a stakeholder in the will.

He revealed that the executor of Lim’s 2004 will is reviewing the court ruling and considering if further legal actions are required.

The ruling will have no impact on his rights as the major shareholder of Lai Sun Garment (International) Limited and his governance and operations of the Lai Sun Group, Lam added.

(Jamie Liu)